PPP Loan Data — Catholic Charities Of Broome County, Binghamton, NY
Catholic Charities Of Broome County
Entity: Non-profit Organization
Location: Binghamton, NYTweet This • Search All PPP Data
Catholic Charities Of Broome County is a non-profit organization located at 232 Main Street in Binghamton, New York that received a Coronavirus-related PPP loan from the SBA of $2,418,082.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Manufacturers and Traders Trust Company
Catholic Charities Of Broome County in Binghamton, NY received a Paycheck Protection Loan of $2.42M through Manufacturers and Traders Trust Company, 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, Catholic Charities Of Broome County's 2019 payroll expenses are estimated to be at least $11.61M.
Based on their reported 332 jobs retained, this equals an estimated average yearly compensation of $34,960 per employee1
Reported PPP Proceed Usage:
On the PPP application, Catholic Charities Of Broome County reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,885,082
- Utilities: $20,000
- Rent: $13,000
- Health Care: $500,000
Business Information - Catholic Charities Of Broome County in Binghamton, NY
232 Main Street
Binghamton, NY 13905
Residential Intellectual and Developmental Disability Facilities
NAICS code 623210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Binghamton
In the Binghamton area, 2 businesses in the "Residential Intellectual and Developmental Disability Facilities" industry received a PPP loan. These local businesses reported an average of 366 employees (compared to this company's 332) and received an average PPP loan of $1,230,881 (compared to this company's $2.42M).
Similar Nearby Businesses Who Received PPP Funding:
Nysarc Inc. Broome-Chenango-Tioga Counties Chapter
Industry PPP Comparison Statistics
Nationwide, 3,014 businesses in the "Residential Intellectual and Developmental Disability Facilities" industry received a total of $1.28B 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 58 employees, 83% lower than Catholic Charities Of Broome County's reported 332 employees, and received an average PPP loan of $424,200, 82% lower than this company's loan of $2.42M.
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Footnotes & Information
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