PPP Loan Data — Central Association For The Blind, Inc, Utica, NY
Central Association For The Blind, Inc is a non-profit organization located at 507 Kent Street in Utica, New York that received a Coronavirus-related PPP loan from the SBA of $1,861,788.00 in April, 2020.
The company has reported itself as a White male owned non-profit, and employed at least 270 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of Utica
Central Association For The Blind, Inc in Utica, NY received a Paycheck Protection Loan of $1.86M through Bank of Utica, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in December, 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, Central Association For The Blind, Inc's 2019 payroll expenses are estimated to be at least $8.94M.
Based on their reported 270 jobs retained, this equals an estimated average yearly compensation of $33,098 per employee1
Reported PPP Proceed Usage:
On the PPP application, Central Association For The Blind, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,861,788
Business Information - Central Association For The Blind, Inc in Utica, NY
507 Kent Street
Utica, NY 13501
Vocational Rehabilitation Services
NAICS code 624310
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Utica
In the Utica area, 4 businesses in the "Vocational Rehabilitation Services" industry received a PPP loan. These local businesses reported an average of 161 employees (compared to this company's 270) and received an average PPP loan of $1,268,695 (compared to this company's $1.86M).
Similar Nearby Businesses Who Received PPP Funding:
Workforce Development Board Of Herkimer Madison And Oneida C
Workforce Development Board Of Herkimer, Madison And Oneida
Human Technologies Corporation
Industry PPP Comparison Statistics
Nationwide, 3,932 businesses in the "Vocational Rehabilitation Services" industry received a total of $878.96M 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 32 employees, 88% lower than Central Association For The Blind, Inc's reported 270 employees, and received an average PPP loan of $223,541, 88% lower than this company's loan of $1.86M.
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Footnotes & Information
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