PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Core Services Group NY Inc, Brooklyn, NY

ALERT: There are 2 PPP loans for a total of $1.73M in our database for businesses with the name "Core Services Group NY Inc" in Brooklyn, NY. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Core Services Group NY Inc
NY Nonprofit Organization

Core Services Group NY Inc

Entity: Non-profit Organization

Industry: Temporary Shelters

Location: Brooklyn, NY

Search All PPP Data

Core Services Group NY Inc is a non-profit organization located at 45 Main St Ste 711 in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $847,381.00 in February, 2021.

The company has reported itself as a male veteran owned non-profit, and employed at least 107 people during the applicable loan loan period.

$ PPP Loan Information
Loan #9530688407

Loan Size:

$847,381

Jobs Retained:

107

Loan Approved:

2021-02-17

Loan Status:

Ongoing Loan

Lender:

Quaint Oak Bank

Core Services Group NY Inc in Brooklyn, NY received a Paycheck Protection Loan of $847,381 through Quaint Oak Bank, which was approved in February, 2021.

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.

Read More
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.

Read More

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, Core Services Group NY Inc's 2019 payroll expenses are estimated to be at least $4.07M.

Based on their reported 107 jobs retained, this equals an estimated average yearly compensation of $38,013 per employee1

Reported PPP Proceed Usage:

On the PPP application, Core Services Group NY Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $847,381

Business Information - Core Services Group NY Inc in Brooklyn, NY

Core Services Group NY Inc
45 Main St Ste 711
Brooklyn, NY 11201

Business Industry:
Temporary Shelters
NAICS code 624221

Business Owner Demographics

Race: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Kings County, NY — SBA Office 0202 — Congressional District: NY-07

Businesses Using Same Address:

There are 2 other businesses that received a PPP loan registered to the same address as Core Services Group NY Inc.

Flavor Foods LLC
Cafeterias, Grill Buffets, and Buffets

$185,032 PPP Loan

Core Services Group, Inc
Other Individual and Family Services

$4.32M PPP Loan

Industry PPP Comparison Statistics

Nationwide, 2,062 businesses in the "Temporary Shelters" industry received a total of $349.32M 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 24 employees, 78% lower than Core Services Group NY Inc's reported 107 employees, and received an average PPP loan of $169,408, 80% lower than this company's loan of $847,381.

SBA PPP loan data, payroll data, and salaries for Core Services Group NY, Inc
NY Nonprofit Organization

Core Services Group NY, Inc

Entity: Non-profit Organization

Industry: Temporary Shelters

Location: Brooklyn, NY

Search All PPP Data

Core Services Group NY, Inc is a non-profit organization located at 45 Main Street in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $884,500.00 in May, 2020.

$ PPP Loan Information
Loan #8903057300

Loan Size:

$884,500

Jobs Retained:

80

Loan Approved:

2020-05-01

Loan Status:

Paid in Full or Forgiven

Lender:

Hanover Community Bank

Core Services Group NY, Inc in Brooklyn, NY received a Paycheck Protection Loan of $884,500 through Hanover Community Bank, which was approved in May, 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 November, 2021.

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 More
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.

Read More

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, Core Services Group NY, Inc's 2019 payroll expenses are estimated to be at least $4.25M.

Based on their reported 80 jobs retained, this equals an estimated average yearly compensation of $53,070 per employee1

Reported PPP Proceed Usage:

On the PPP application, Core Services Group NY, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $884,500

Business Information - Core Services Group NY, Inc in Brooklyn, NY

Core Services Group NY, Inc
45 Main Street
Brooklyn, NY 11201

Business Industry:
Temporary Shelters
NAICS code 624221

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: New Business or 2 years or less

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Kings County, NY — SBA Office 0202 — Congressional District: NY-07

Industry PPP Comparison Statistics

Nationwide, 2,062 businesses in the "Temporary Shelters" industry received a total of $349.32M 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 24 employees, 70% lower than Core Services Group NY, Inc's reported 80 employees, and received an average PPP loan of $169,408, 81% lower than this company's loan of $884,500.

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.


Have FederalPay.org's open data tools been valuable? Consider donating!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/core-services-group-ny-inc-brooklyn-ny