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PPP Loan Data — Catholic Foreign Mission Society Of America, Inc, Maryknoll, NY

SBA PPP loan data, payroll data, and salaries for Catholic Foreign Mission Society Of America, Inc
NY Nonprofit Organization

Catholic Foreign Mission Society Of America, Inc

Entity: Non-profit Organization

Industry: Religious Organizations

Location: Maryknoll, NY

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Catholic Foreign Mission Society Of America, Inc is a non-profit organization located at 77 Ryder Rd in Maryknoll, New York that received a Coronavirus-related PPP loan from the SBA of $4,517,832.00 in May, 2020.

$ PPP Loan Information
Loan #1046027708

Loan Size:

$4.52M

Jobs Retained:

322

Loan Approved:

2020-05-01

Loan Status:

Ongoing Loan

Lender:

JPMorgan Chase Bank, National Association

Catholic Foreign Mission Society Of America, Inc in Maryknoll, NY received a Paycheck Protection Loan of $4.52M through JPMorgan Chase Bank, National Association, which was approved in May, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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 Foreign Mission Society Of America, Inc's 2019 payroll expenses are estimated to be at least $21.69M.

Based on their reported 322 jobs retained, this equals an estimated average yearly compensation of $67,347 per employee1

Reported PPP Proceed Usage:

On the PPP application, Catholic Foreign Mission Society Of America, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $3,614,266
  • Utilities: $400,186
  • Rent: $14,000
  • Health Care: $489,380
Because the loan received by Catholic Foreign Mission Society Of America, Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Catholic Foreign Mission Society Of America, Inc in Maryknoll, NY

Catholic Foreign Mission Society Of America, Inc
77 Ryder Rd
Maryknoll, NY 10545

Business Industry:
Religious Organizations
NAICS code 813110

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Westchester County, NY — SBA Office 0202 — Congressional District: NY-17

Similar Companies near Maryknoll

In the Maryknoll area, 2 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 224 employees (compared to this company's 322) and received an average PPP loan of $2,822,294 (compared to this company's $4.52M).

Similar Nearby Businesses Who Received PPP Funding:

Maryknoll Sisters Of Saint Dominic, Inc
Maryknoll, NY

$1.13M PPP Loan

Industry PPP Comparison Statistics

Nationwide, 209,793 businesses in the "Religious Organizations" industry received a total of $12.14B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 10 employees, 97% lower than Catholic Foreign Mission Society Of America, Inc's reported 322 employees, and received an average PPP loan of $57,864, 99% lower than this company's loan of $4.52M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

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Footnotes & Information

1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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Source: www.federalpay.org/paycheck-protection-program/catholic-foreign-mission-society-of-america-inc-maryknoll-ny