PPP Loan Data — Economic Opportunity Council Of Suffolk, Inc, Patchogue, NY
Economic Opportunity Council Of Suffolk, Inc is a non-profit organization located at 31 Main St in Patchogue, New York that received a Coronavirus-related PPP loan from the SBA of $2,128,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:People's United Bank, National Association
Economic Opportunity Council Of Suffolk, Inc in Patchogue, NY received a Paycheck Protection Loan of $2.13M through People's United Bank, National Association, which was approved in April, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, Economic Opportunity Council Of Suffolk, Inc's 2019 payroll expenses are estimated to be at least $10.21M.
Based on their reported 334 jobs retained, this equals an estimated average yearly compensation of $30,582 per employee1
Reported PPP Proceed Usage:
On the PPP application, Economic Opportunity Council Of Suffolk, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,128,000
Business Information - Economic Opportunity Council Of Suffolk, Inc in Patchogue, NY
31 Main St
Patchogue, NY 11772
Other Social Advocacy Organizations
NAICS code 813319
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Patchogue
In the Patchogue area, 2 businesses in the "Other Social Advocacy Organizations" industry received a PPP loan. These local businesses reported an average of 172 employees (compared to this company's 334) and received an average PPP loan of $1,099,493 (compared to this company's $2.13M).
Similar Nearby Businesses Who Received PPP Funding:
Sepa Mujer Inc
Industry PPP Comparison Statistics
Nationwide, 9,921 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, 95% lower than Economic Opportunity Council Of Suffolk, Inc's reported 334 employees, and received an average PPP loan of $144,360, 93% lower than this company's loan of $2.13M.
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Footnotes & Information
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