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PPP Loan Data — Enlace New York Inc,
New York, NY
Enlace New York Inc
Entity: Corporation
Industry: Insurance Agencies and Brokerages
Location: New York, NY
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Enlace New York Inc is a corporation located at 115 Broadway Rm 1303 in New York, New York that received a Coronavirus-related PPP loan from the SBA of $308,703.00 in February, 2021.
The company has reported itself as a White female owned business, and employed at least eighteen people during the applicable loan loan period.
$
PPP Loan Information
Loan #5838458406
Loan Size:
Jobs Retained:
18Loan Approved:
2021-02-09Loan Status:
Paid in Full or ForgivenLender:
Bank of America, National AssociationEnlace New York Inc in New York, NY received a Paycheck Protection Loan of $308,703 through Bank of America, National Association, which was approved in February, 2021.
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 September, 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 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, Enlace New York Inc's 2019 payroll expenses are estimated to be at least $1.48M.
Based on their reported 18 jobs retained, this equals an estimated average yearly compensation of $82,321 per employee1
Reported PPP Proceed Usage:
On the PPP application, Enlace New York Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $308,700
- Utilities: $1
Business Information - Enlace New York Inc in New York, NY
115 Broadway Rm 1303
New York, NY 10006
Business Industry:
Insurance Agencies and Brokerages
NAICS code 524210
Business Owner Demographics
Race: White
Ethnicity: Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near New York
In the New York area, 42 businesses in the "Insurance Agencies and Brokerages" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 18) and received an average PPP loan of $168,940 (compared to this company's $308,703).
Similar Nearby Businesses Who Received PPP Funding:
Yuanex Inc
New York, NY
Patrick Hardie
New York, NY
Brownstone Agency Inc
New York, NY
KBL Healthcare Management, Inc
New York, NY
The Titanium Risk Group Corp
New York, NY
J Gordon Wells International Brokerage Corp
New York, NY
Aly's Coffee
New York, NY
Latam Sef, LLC
New York, NY
LEO Fitzgerald & Associates Inc
New York, NY
Industry PPP Comparison Statistics
Nationwide, 148,594 businesses in the "Insurance Agencies and Brokerages" industry received a total of $5.85B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 4 employees, 78% lower than Enlace New York Inc's reported 18 employees, and received an average PPP loan of $39,369, 87% lower than this company's loan of $308,703.
Enlace New York Inc
Entity: Corporation
Industry: Securities Brokerage
Location: New York, NY
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Enlace New York Inc is a corporation located at 115 Broadway Rm 1303 in New York, New York that received a Coronavirus-related PPP loan from the SBA of $413,243.00 in May, 2020.
The company has reported itself as a White female owned business, and employed at least fourteen people during the applicable loan loan period.
$
PPP Loan Information
Loan #8634607300
Loan Size:
Jobs Retained:
14Loan Approved:
2020-05-01Loan Status:
Paid in Full or ForgivenLender:
Bank of America, National AssociationEnlace New York Inc in New York, NY received a Paycheck Protection Loan of $413,243 through Bank of America, National Association, 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 July, 2021.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 14 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 20. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Enlace New York Inc's 2019 payroll expenses are estimated to be at least $1.98M (not accounting for salary amounts > $100k).
Because the 14 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Enlace New York Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $413,243
Business Information - Enlace New York Inc in New York, NY
115 Broadway Rm 1303
New York, NY 10006
Business Industry:
Securities Brokerage
NAICS code 523120
Business Owner Demographics
Race: White
Ethnicity: Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near New York
In the New York area, 34 businesses in the "Securities Brokerage" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 14) and received an average PPP loan of $382,847 (compared to this company's $413,243).
Similar Nearby Businesses Who Received PPP Funding:
Prime Executions, Inc
New York, NY
Hamilton Executions, LLC
New York, NY
American Financiers Group LLC
New York, NY
Perth Advisors LLC
New York, NY
Stoeverglass And Co, Inc
New York, NY
Rosenblatt Securities
New York, NY
SAG Realty Group
New York, NY
David Murray
New York, NY
Rialto Trading Technology LLC
New York, NY
Industry PPP Comparison Statistics
Nationwide, 4,354 businesses in the "Securities Brokerage" industry received a total of $313.08M 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 5 employees, 64% lower than Enlace New York Inc's reported 14 employees, and received an average PPP loan of $71,907, 83% lower than this company's loan of $413,243.
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.
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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