PPP Loan Data — Exquisite Staffing LLC-Sba Small 7A Term, New York, NY

Exquisite Staffing LLC-Sba Small 7A Term

Entity: Limited Liability Company (LLC)

Industry: Unknown

Location: New York, NY

Exquisite Staffing LLC-Sba Small 7A Term is a limited liability company (LLC) located at 224 W 30th St - Suite 406 in New York, New York that received a Coronavirus-related PPP loan from the SBA of $3,574,502.00 in May, 2020.

$ PPP Loan Information
Loan #4132957705

Loan Size:

$3.57M

Jobs Retained:

500

Loan Approved:

2020-05-01

Loan Status:

Ongoing Loan

Lender:

TD Bank, National Association

Exquisite Staffing LLC-Sba Small 7A Term in New York, NY received a Paycheck Protection Loan of $3.57M through TD Bank, National Association, which was approved in May, 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.

Understanding 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.

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, Exquisite Staffing LLC-Sba Small 7A Term's 2019 payroll expenses are estimated to be at least $17.16M.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $34,315 per employee¹

Reported PPP Proceed Usage:

On the PPP application, Exquisite Staffing LLC-Sba Small 7A Term reported intending to use the proceeds of their PPP loan for the following expenses:

Payroll: $3,574,502

Because the loan received by Exquisite Staffing LLC-Sba Small 7A Term is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Exquisite Staffing LLC-Sba Small 7A Term in New York, NY

Exquisite Staffing LLC-Sba Small 7A Term
224 W 30th St - Suite 406
New York, NY 10001

Business Industry:
Unknown
NAICS code 0

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

New York County, NY — SBA Office 0202 — Congressional District: NY-12

Similar Companies near New York

In the New York area, 12,203 businesses in the "Unknown" industry received a PPP loan. These local businesses reported an average of 14 employees (compared to this company's 500) and received an average PPP loan of $154,025 (compared to this company's $3.57M).

Similar Nearby Businesses Who Received PPP Funding:

Pelczar Productions
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$4,040 PPP Loan

Camilla J Brooks Lcsw
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Kids Of New York Applied Behavioranaly Sis, PLLC
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Altona Filmhaus
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$8,333 PPP Loan

Digiulio Group Real Estate, LLC
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$33,345 PPP Loan

Regal Hoffmann & Associates LLC
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$22,795 PPP Loan

New Poon Kee LLC-Sba Small 7A Term
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$64,065 PPP Loan

Rubin LLC
New York, NY

$62,080 PPP Loan

Compciti Business Solutions, Inc.-Sba Small 7A Term
New York, NY

$93,570 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 132,325 businesses in the "Unknown" 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 13 employees, 97% lower than Exquisite Staffing LLC-Sba Small 7A Term's reported 500 employees, and received an average PPP loan of $44,230, 99% lower than this company's loan of $3.57M.

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.

Search FederalPay's Full PPP Loan Database

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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