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PPP Loan Data — Common Ground Management Corporation,
Ny, NY
Common Ground Management Corporation
Entity: Corporation
Industry: Lessors of Residential Buildings and Dwellings
Location: Ny, NY
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Common Ground Management Corporation is a corporation located at 505 8th Ave in Ny, New York that received a Coronavirus-related PPP loan from the SBA of $4,326,700.00 in April, 2020.
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PPP Loan Information
Loan #5665607310
Loan Size:
Jobs Retained:
423Loan Approved:
2020-04-30Loan Status:
Paid in Full or ForgivenLender:
Loan Source IncorporatedCommon Ground Management Corporation in Ny, NY received a Paycheck Protection Loan of $4.33M through Loan Source Incorporated, 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 March, 2022.
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 MoreUnderstanding 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 MoreBased 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, Common Ground Management Corporation's 2019 payroll expenses are estimated to be at least $20.77M.
Based on their reported 423 jobs retained, this equals an estimated average yearly compensation of $49,097 per employee1
Reported PPP Proceed Usage:
On the PPP application, Common Ground Management Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,326,700
Business Information - Common Ground Management Corporation in Ny, NY
505 8th Ave
Ny, NY 10018
Business Industry:
Lessors of Residential Buildings and Dwellings
NAICS code 531110
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
Businesses Using Same Address:
There are 8 other businesses that received a PPP loan registered to the same address as Common Ground Management Corporation.
GIL Music Corp
Lessors of Nonfinancial Intangible Assets (except Copyrighted Works)
Thomas J Moran ESQ PC
Offices of Lawyers
Farm Training Collective NYC Inc
Other Grantmaking and Giving Services
Manhattan Beauty Inc
Cosmetics, Beauty Supplies, and Perfume Stores
Beauty Spot Inc
Cosmetics, Beauty Supplies, and Perfume Stores
Prompt Business Systems Inc
Office Equipment Merchant Wholesalers
Cool Breeze AC Inc
New Single-Family Housing Construction (except For-Sale Builders)
505 Hp LLC
Full-Service Restaurants
Similar Companies near Ny
In the Ny area, 101 businesses in the "Lessors of Residential Buildings and Dwellings" industry received a PPP loan. These local businesses reported an average of 18 employees (compared to this company's 423) and received an average PPP loan of $182,384 (compared to this company's $4.33M).
Similar Nearby Businesses Who Received PPP Funding:
Creston Hills 26 LLC
New York, NY
Tanglewood Owners LLC
New York, NY
Kassin Sabbagh Realty LLC
New York, NY
Breaking Ground II Housing Development Fund Corporation
New York, NY
S & L Acorn Investment LLC
New York, NY
Kenjo Jewelry 57Th Street Inc
New York, NY
Fulton Street Realty Venture, LLC
New York, NY
Copycats Second Avenue, Corp
New York, NY
401 W 50 Tavern Inc
New York, NY
Industry PPP Comparison Statistics
Nationwide, 28,667 businesses in the "Lessors of Residential Buildings and Dwellings" industry received a total of $2.03B 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 8 employees, 98% lower than Common Ground Management Corporation's reported 423 employees, and received an average PPP loan of $70,656, 98% lower than this company's loan of $4.33M.
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.
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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