PPP Loan Data — Children's Friend And Service, Providence, RI
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
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.
Business Information - Children's Friend And Service in Providence, RI
153 Summer St
Providence, RI 2903
Child and Youth Services (NAICS code 624110)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: UnreportedCongressional 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).
Similar Nearby Businesses Who Received PPP Funding:
The Boys And Girls Club Of Providence
Adoption Rhode Island
John Hope Settlement House
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.
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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