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PPP Loan Data — Children's Friend And Service, Providence, RI

SBA PPP loan data, payroll data, and salaries for Children's Friend And Service
RI Nonprofit Organization

Children's Friend And Service

Entity: Non-profit Organization

Industry: Child and Youth Services

Location: Providence, RI

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Children's Friend And Service is a non-profit organization located at 153 Summer St in Providence, Rhode Island that received a Coronavirus-related PPP loan from the SBA of $4,335,900.00 in April, 2020.

The company has reported itself as a White male owned non-profit, and employed at least 475 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$4.34M

Jobs Retained:

475

Loan Approved:

2020-04-08

Lender:

THE WASHINGTON TRUST COMPANY OF WESTERLY

Children's Friend And Service received a Paycheck Protection Loan of $4.34M through THE WASHINGTON TRUST COMPANY OF WESTERLY, which was approved in April, 2020.

Based on standard PPP eligibility rules, Children's Friend And Service's total 2019 payroll expenses were approximately $20.81M in order to qualify for the PPP loan amount received.

Based on their reported 475 jobs retained, this equals an estimated average yearly compensation of $43,815 per employee1.

Because the loan received by Children's Friend And Service 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 - Children's Friend And Service in Providence, RI

Children's Friend And Service
153 Summer St
Providence, RI 2903

Business Industry

Child and Youth Services (NAICS code 624110)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: MALE OWNED

Veteran Status: Unreported

Congressional District: RI-02

Similar Companies near Providence

In the Providence area, 5 businesses in the "Child and Youth Services" industry received a PPP loan. These local businesses reported an average of 101 employees (compared to this company's 475) and received an average PPP loan of $1,042,354 (compared to this company's $4.34M).

Industry PPP Comparison Statistics

Nationwide, 6,712 businesses in the "Child and Youth Services" industry received a total of $1,286,022,505.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 24 employees, 95% lower than Children's Friend And Service's reported 475 employees, and received an average PPP loan of $191,600, 96% lower than this company's loan of $4.34M.

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.

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Footnotes & Information

1. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/childrens-friend-and-service-providence-ri