PPP Loan Data — Brackens Financial Solutions Networks LLC, Syracuse, NY
Brackens Financial Solutions Networks LLC is a limited liability company (LLC) located at 333 West Washington St Suite 220 in Syracuse, New York that received a Coronavirus-related PPP loan from the SBA of $46,630.00 in April, 2020.
The company has reported itself as a Black or african american female owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Brackens Financial Solutions Networks LLC in Syracuse, NY received a Paycheck Protection Loan of $46,630 through Pathfinder Bank, which was approved in April, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Brackens Financial Solutions Networks LLC's 2019 payroll expenses are estimated to be at least $223,824.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $74,608 per employee1
Reported PPP Proceed Usage:
On the PPP application, Brackens Financial Solutions Networks LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,630
Business Information - Brackens Financial Solutions Networks LLC in Syracuse, NY
333 West Washington St Suite 220
Syracuse, NY 13202
NAICS code 523930
Business Owner Demographics
Race: Black or African American
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Syracuse
In the Syracuse area, 18 businesses in the "Investment Advice" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 3) and received an average PPP loan of $46,870 (compared to this company's $46,630).
Similar Nearby Businesses Who Received PPP Funding:
Andrew G. Meyer
Itrust Advisors LLC
Matthew Mckay Lasher
The Custom Wealth Companies Inc
Vavonese Financial Services
Armory Capital Management, LLC
L. R. Vassallo & Associates, Inc
Industry PPP Comparison Statistics
Nationwide, 32,223 businesses in the "Investment Advice" industry received a total of $1.45B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 4 employees, 33% higher than Brackens Financial Solutions Networks LLC's reported 3 employees, and received an average PPP loan of $44,994, 4% lower than this company's loan of $46,630.
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Footnotes & Information
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