PPP Loan Data — Empire St Special Needs Experience Inc, Spencer, NY
Empire St Special Needs Experience Inc is a non-profit organization located at 725 Larue Rd in Spencer, New York that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Tioga State Bank, National Association
Empire St Special Needs Experience Inc in Spencer, NY received a Paycheck Protection Loan of $25,000 through Tioga State Bank, National Association, which was approved in January, 2021.
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, Empire St Special Needs Experience Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Empire St Special Needs Experience Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,995
- Utilities: $1
Business Information - Empire St Special Needs Experience Inc in Spencer, NY
725 Larue Rd
Spencer, NY 14883
Other Individual and Family Services
NAICS code 624190
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 25,118 businesses in the "Other Individual and Family Services" industry received a total of $2.96B 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, 167% higher than Empire St Special Needs Experience Inc's reported 6 employees, and received an average PPP loan of $117,860, 371% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!