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PPP Loan Data — Finger Lakes Area Counseling & Recovery Agency Inc, Clifton Springs, NY

SBA PPP loan data, payroll data, and salaries for Finger Lakes Area Counseling & Recovery Agency Inc
NY Nonprofit Organization

Finger Lakes Area Counseling & Recovery Agency Inc

Entity: Non-profit Organization

Industry: Other Residential Care Facilities

Location: Clifton Springs, NY

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Finger Lakes Area Counseling & Recovery Agency Inc is a non-profit organization located at 28 East Main St in Clifton Springs, New York that received a Coronavirus-related PPP loan from the SBA of $2,872,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.87M

Jobs Retained:

308

Loan Approved:

2020-04-05

Lender:

THE CANANDAIGUA NATIONAL BANK AND TRUST COMPANY

Finger Lakes Area Counseling & Recovery Agency Inc in Clifton Springs, NY received a Paycheck Protection Loan of $2.87M through THE CANANDAIGUA NATIONAL BANK AND TRUST COMPANY, which was approved in April, 2020.

Based on standard PPP eligibility rules, Finger Lakes Area Counseling & Recovery Agency Inc's total 2019 payroll expenses were approximately $13.79M in order to qualify for the PPP loan amount received.

Based on their reported 308 jobs retained, this equals an estimated average yearly compensation of $44,758 per employee1.

Because the loan received by Finger Lakes Area Counseling & Recovery Agency Inc 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 - Finger Lakes Area Counseling & Recovery Agency Inc in Clifton Springs, NY

Finger Lakes Area Counseling & Recovery Agency Inc
28 East Main St
Clifton Springs, NY 14432

Business Industry

Other Residential Care Facilities (NAICS code 623990)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NY-23

Industry PPP Comparison Statistics

Nationwide, 2,694 businesses in the "Other Residential Care Facilities" industry received a total of $666,350,372.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 29 employees, 91% lower than Finger Lakes Area Counseling & Recovery Agency Inc's reported 308 employees, and received an average PPP loan of $247,346, 91% lower than this company's loan of $2.87M.

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, and is published unmodified, as provided by the SBA.

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Footnotes & Information

1. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/finger-lakes-area-counseling-and-recovery-agency-inc-clifton-springs-ny