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PPP Loan Data — Forrest Solutions, Inc.,
New York, NY
Forrest Solutions, Inc.
Entity: Subchapter S Corporation
Industry: Employment Placement Agencies
Location: New York, NY
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Forrest Solutions, Inc. is a subchapter s corporation located at 19 W 44th Street in New York, New York that received a Coronavirus-related PPP loan from the SBA of $9,011,724.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
500Loan Approved:
2020-04-14Lender:
KEYBANK NATIONAL ASSOCIATIONForrest Solutions, Inc. received a Paycheck Protection Loan of $9.01M through KEYBANK NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Forrest Solutions, Inc.'s total 2019 payroll expenses were approximately $43.26M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $86,513 per employee1.
Business Information - Forrest Solutions, Inc. in New York, NY
19 W 44th Street
New York, NY 10036
Business Industry
Employment Placement Agencies (NAICS code 561311)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: NY-10Similar Companies near New York
In the New York area, 16 businesses in the "Employment Placement Agencies" industry received a PPP loan. These local businesses reported an average of 47 employees (compared to this company's 500) and received an average PPP loan of $751,707 (compared to this company's $9.01M).
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New York Actors Connection, Inc
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Essex Personnel Agency Inc
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Industry PPP Comparison Statistics
Nationwide, 7,294 businesses in the "Employment Placement Agencies" industry received a total of $2,648,453,106.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 38 employees, 92% lower than Forrest Solutions, Inc.'s reported 500 employees, and received an average PPP loan of $363,100, 96% lower than this company's loan of $9.01M.
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.
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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