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PPP Loan Data — Cyrid Media Inc,
Cleveland, OH
Cyrid Media Inc
Entity: Corporation
Industry: Other Motion Picture and Video Industries
Location: Cleveland, OH
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Cyrid Media Inc is a corporation located at 26650 Renaissance Pkwy Ste D4 in Cleveland, Ohio that received a Coronavirus-related PPP loan from the SBA of $102,817.00 in February, 2021.
The company has reported itself as a White male owned business, and employed at least seven people during the applicable loan loan period.
$
PPP Loan Information
Loan #6673578402
Loan Size:
Jobs Retained:
7Loan Approved:
2021-02-10Loan Status:
Ongoing LoanLender:
The Huntington National BankCyrid Media Inc in Cleveland, OH received a Paycheck Protection Loan of $102,817 through The Huntington National 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 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, Cyrid Media Inc's 2019 payroll expenses are estimated to be at least $493,522.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $70,503 per employee1
Reported PPP Proceed Usage:
On the PPP application, Cyrid Media Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $102,815
- Utilities: $1
Business Information - Cyrid Media Inc in Cleveland, OH
26650 Renaissance Pkwy Ste D4
Cleveland, OH 44128
Business Industry:
Other Motion Picture and Video Industries
NAICS code 512199
Business Owner Demographics
Race: White
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 2,552 businesses in the "Other Motion Picture and Video Industries" industry received a total of $99.34M 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 4 employees, 43% lower than Cyrid Media Inc's reported 7 employees, and received an average PPP loan of $38,927, 62% lower than this company's loan of $102,817.
Cyrid Media Inc
Entity: Corporation
Industry: Advertising Agencies
Location: Cleveland, OH
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Cyrid Media Inc is a corporation located at 26650 Renaissance Pkwy Ste D4 in Cleveland, Ohio that received a Coronavirus-related PPP loan from the SBA of $94,273.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least seven people during the applicable loan loan period.
$
PPP Loan Information
Loan #6541007005
Loan Size:
Jobs Retained:
7Loan Approved:
2020-04-07Loan Status:
Ongoing LoanLender:
The Huntington National BankCyrid Media Inc in Cleveland, OH received a Paycheck Protection Loan of $94,273 through The Huntington National Bank, 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.
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, Cyrid Media Inc's 2019 payroll expenses are estimated to be at least $452,510.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $64,644 per employee1
Reported PPP Proceed Usage:
On the PPP application, Cyrid Media Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $94,273
Business Information - Cyrid Media Inc in Cleveland, OH
26650 Renaissance Pkwy Ste D4
Cleveland, OH 44128
Business Industry:
Advertising Agencies
NAICS code 541810
Business Owner Demographics
Race: White
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Cleveland
In the Cleveland area, 4 businesses in the "Advertising Agencies" industry received a PPP loan. These local businesses reported an average of 44 employees (compared to this company's 7) and received an average PPP loan of $720,034 (compared to this company's $94,273).
Similar Nearby Businesses Who Received PPP Funding:
DK Marketing Group LLC
Cleveland, OH
Hype Marketing LLC
Cleveland, OH
Marcus Thomas, LLC
Cleveland, OH
Industry PPP Comparison Statistics
Nationwide, 21,280 businesses in the "Advertising Agencies" industry received a total of $2.32B 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, 14% higher than Cyrid Media Inc's reported 7 employees, and received an average PPP loan of $108,987, 16% higher than this company's loan of $94,273.
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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