PPP Loan Data — Ethereal Creative NYC Corp, Brooklyn, NY
Ethereal Creative NYC Corp is a corporation located at 703 Chauncey St in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $25,455.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Ethereal Creative NYC Corp in Brooklyn, NY received a Paycheck Protection Loan of $25,455 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 April, 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, Ethereal Creative NYC Corp's 2019 payroll expenses are estimated to be at least $122,184.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,728 per employee1
Reported PPP Proceed Usage:
On the PPP application, Ethereal Creative NYC Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,455
Business Information - Ethereal Creative NYC Corp in Brooklyn, NY
703 Chauncey St
Brooklyn, NY 11207
NAICS code 999990
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Brooklyn
In the Brooklyn area, 46 businesses in the "Unclassified Establishments" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 3) and received an average PPP loan of $43,906 (compared to this company's $25,455).
Similar Nearby Businesses Who Received PPP Funding:
Freedland Strategies LLC
JAY & Alston Inc
Barlow & Sons, Inc
Future Wife LLC
Global Selection Corp
Zenab Food Inc
Nafshi Journal Inc
M & Q Steel Corp
Silver Cross LLC
Industry PPP Comparison Statistics
Nationwide, 85,647 businesses in the "Unclassified Establishments" industry received a total of $3.67B 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 10 employees, 233% higher than Ethereal Creative NYC Corp's reported 3 employees, and received an average PPP loan of $42,878, 68% higher than this company's loan of $25,455.
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Footnotes & Information
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