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PPP Loan Data — Families For Freedom Inc,
New York, NY
Families For Freedom Inc
Entity: Non-profit Organization
Industry: Human Rights Organizations
Location: New York, NY
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Families For Freedom Inc is a non-profit organization located at 35 W 31st St Rm 702 in New York, New York that received a Coronavirus-related PPP loan from the SBA of $57,987.00 in March, 2021.
$
PPP Loan Information
Loan #1235868708
Loan Size:
Jobs Retained:
4Loan Approved:
2021-03-26Loan Status:
Ongoing LoanLender:
Customers BankFamilies For Freedom Inc in New York, NY received a Paycheck Protection Loan of $57,987 through Customers Bank, which was approved in March, 2021.
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.
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, Families For Freedom Inc's 2019 payroll expenses are estimated to be at least $278,338.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $69,585 per employee1
Reported PPP Proceed Usage:
On the PPP application, Families For Freedom Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $57,983
- Utilities: $1
Business Information - Families For Freedom Inc in New York, NY
35 W 31st St Rm 702
New York, NY 10001
Business Industry:
Human Rights Organizations
NAICS code 813311
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
Similar Companies near New York
In the New York area, 17 businesses in the "Human Rights Organizations" industry received a PPP loan. These local businesses reported an average of 24 employees (compared to this company's 4) and received an average PPP loan of $404,297 (compared to this company's $57,987).
Similar Nearby Businesses Who Received PPP Funding:
Odyssey Impact, Inc
New York, NY
China Labor Watch Inc
New York, NY
Madre, Inc
New York, NY
The New York Immigration Coalition, Inc
New York, NY
National Cares Mentoring Movement Inc
New York, NY
Partners For Progressive Israel
New York, NY
Ideas Beyond Borders
New York, NY
North Korea Strategy Center U.s., Inc
New York, NY
Industry PPP Comparison Statistics
Nationwide, 1,145 businesses in the "Human Rights Organizations" industry received a total of $202M 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 18 employees, 350% higher than Families For Freedom Inc's reported 4 employees, and received an average PPP loan of $176,423, 204% higher than this company's loan of $57,987.
Families For Freedom, Inc
Entity: Non-profit Organization
Industry: Human Rights Organizations
Location: New York, NY
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Families For Freedom, Inc is a non-profit organization located at 35 West 31st Street Suite 702 in New York, New York that received a Coronavirus-related PPP loan from the SBA of $40,800.00 in April, 2020.
$
PPP Loan Information
Loan #4574047308
Loan Size:
Jobs Retained:
4Loan Approved:
2020-04-29Loan Status:
Ongoing LoanLender:
Cross River BankFamilies For Freedom, Inc in New York, NY received a Paycheck Protection Loan of $40,800 through Cross River Bank, which was approved in April, 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.
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, Families For Freedom, Inc's 2019 payroll expenses are estimated to be at least $195,840.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $48,960 per employee1
Reported PPP Proceed Usage:
On the PPP application, Families For Freedom, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $40,800
Business Information - Families For Freedom, Inc in New York, NY
35 West 31st Street Suite 702
New York, NY 10001
Business Industry:
Human Rights Organizations
NAICS code 813311
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
Similar Companies near New York
In the New York area, 17 businesses in the "Human Rights Organizations" industry received a PPP loan. These local businesses reported an average of 24 employees (compared to this company's 4) and received an average PPP loan of $404,297 (compared to this company's $40,800).
Similar Nearby Businesses Who Received PPP Funding:
Odyssey Impact, Inc
New York, NY
China Labor Watch Inc
New York, NY
Madre, Inc
New York, NY
The New York Immigration Coalition, Inc
New York, NY
National Cares Mentoring Movement Inc
New York, NY
Partners For Progressive Israel
New York, NY
Ideas Beyond Borders
New York, NY
North Korea Strategy Center U.s., Inc
New York, NY
Industry PPP Comparison Statistics
Nationwide, 1,145 businesses in the "Human Rights Organizations" industry received a total of $202M 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 18 employees, 350% higher than Families For Freedom, Inc's reported 4 employees, and received an average PPP loan of $176,423, 332% higher than this company's loan of $40,800.
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.
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