Comunilife, Inc in New York, NY - SBA PPP Loan Data (Paycheck Protection Program)

PPP Loan Data — Comunilife, Inc, New York, NY

NY Nonprofit Organization

Comunilife, Inc

Entity: Non-profit Organization

Industry: Other Social Advocacy Organizations

Location: New York, NY

Comunilife, Inc is a non-profit organization located at 462 Seventh Avenue 3rd Floor in New York, New York that received a Coronavirus-related PPP loan from the SBA of $2,565,100.00 in April, 2020.

$ PPP Loan Information
Loan #1194707201

Loan Size:

$2.57M

Jobs Retained:

280

Loan Approved:

2020-04-15

Loan Status:

Ongoing Loan

Lender:

Citibank, N.A.

Comunilife, Inc in New York, NY received a Paycheck Protection Loan of $2.57M through Citibank, N.A., which was approved in April, 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.

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.

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, Comunilife, Inc's 2019 payroll expenses are estimated to be at least $12.31M.

Based on their reported 280 jobs retained, this equals an estimated average yearly compensation of $43,973 per employee¹

Reported PPP Proceed Usage:

On the PPP application, Comunilife, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

Utilities: $2,565,100

Because the loan received by Comunilife, 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 - Comunilife, Inc in New York, NY

Comunilife, Inc
462 Seventh Avenue 3rd Floor
New York, NY 10018

Business Industry:
Other Social Advocacy Organizations
NAICS code 813319

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

New York County, NY — SBA Office 0202 — Congressional District: NY-10

Similar Companies near New York

In the New York area, 62 businesses in the "Other Social Advocacy Organizations" industry received a PPP loan. These local businesses reported an average of 33 employees (compared to this company's 280) and received an average PPP loan of $376,924 (compared to this company's $2.57M).

Similar Nearby Businesses Who Received PPP Funding:

Panthera Corporation
New York, NY

$802,970 PPP Loan

Cicatelli Associates, Inc
New York, NY

$1.6M PPP Loan

The New York Housing Conference
New York, NY

$61,657 PPP Loan

America Needs You
New York, NY

$403,104 PPP Loan

Theatre Forward Inc
New York, NY

$77,603 PPP Loan

American Friends Of The Israel Museum
New York, NY

$131,600 PPP Loan

United Way Of New York City
New York, NY

$1.26M PPP Loan

Seeds Of Peace Inc
New York, NY

$597,332 PPP Loan

New York State Tenants & Neighbors Information Service, Inc
New York, NY

$58,820 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 9,845 businesses in the "Other Social Advocacy Organizations" industry received a total of $1.43B 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 16 employees, 94% lower than Comunilife, Inc's reported 280 employees, and received an average PPP loan of $145,329, 94% lower than this company's loan of $2.57M.

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.

Search FederalPay's Full PPP Loan Database

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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