PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Funders For Lesbian And Gay Issues Inc, New York, NY

ALERT: There are 2 PPP loans for a total of $392,800 in our database for businesses with the name "Funders For Lesbian And Gay Issues Inc" in New York, NY. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Funders For Lesbian And Gay Issues Inc
NY

Funders For Lesbian And Gay Issues Inc

Entity: Corporation

Industry: Other Social Advocacy Organizations

Location: New York, NY

Search All PPP Data

Funders For Lesbian And Gay Issues Inc is a corporation located at 45 W 36th St Fl 8 in New York, New York that received a Coronavirus-related PPP loan from the SBA of $196,400.00 in February, 2021.

$ PPP Loan Information
Loan #1245668406

Loan Size:

$196,400

Jobs Retained:

9

Loan Approved:

2021-02-01

Loan Status:

Paid in Full or Forgiven

Lender:

Forbright Bank
Likely Employment Reduction3

Funders For Lesbian And Gay Issues Inc in New York, NY received a Paycheck Protection Loan of $196,400 through Forbright Bank, which was approved in February, 2021.

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 February, 2022.

The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 9 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.

The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 9. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.

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 More
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.

Read More

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, Funders For Lesbian And Gay Issues Inc's 2019 payroll expenses are estimated to be at least $942,720 (not accounting for salary amounts > $100k).

Because the 9 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.

Reported PPP Proceed Usage:

On the PPP application, Funders For Lesbian And Gay Issues Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $196,398
  • Utilities: $1

Business Information - Funders For Lesbian And Gay Issues Inc in New York, NY

Funders For Lesbian And Gay Issues Inc
45 W 36th St Fl 8
New York, NY 10018

Business Industry:
Other Social Advocacy Organizations
NAICS code 813319

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

Businesses Using Same Address:

There is one other business that received a PPP loan registered to the same address as Funders For Lesbian And Gay Issues Inc.

Village Health Works
General Medical and Surgical Hospitals

$282,957 PPP Loan

Similar Companies near New York

In the New York area, 62 businesses in the "Other Social Advocacy Organizations" industry received a PPP loan. These local businesses reported an average of 33 employees (compared to this company's 9) and received an average PPP loan of $376,924 (compared to this company's $196,400).

Industry PPP Comparison Statistics

Nationwide, 9,844 businesses in the "Other Social Advocacy Organizations" industry received a total of $1.43B 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 16 employees, 78% higher than Funders For Lesbian And Gay Issues Inc's reported 9 employees, and received an average PPP loan of $145,144, 26% lower than this company's loan of $196,400.

SBA PPP loan data, payroll data, and salaries for Funders For Lesbian And Gay Issues, Inc
NY

Funders For Lesbian And Gay Issues, Inc

Entity: Corporation

Industry: Other Social Advocacy Organizations

Location: New York, NY

Search All PPP Data

Funders For Lesbian And Gay Issues, Inc is a corporation located at 45 West 36th Street, 8th Floor in New York, New York that received a Coronavirus-related PPP loan from the SBA of $196,400.00 in April, 2020.

$ PPP Loan Information
Loan #4799647203

Loan Size:

$196,400

Jobs Retained:

11

Loan Approved:

2020-04-27

Loan Status:

Paid in Full or Forgiven

Lender:

Forbright Bank

Funders For Lesbian And Gay Issues, Inc in New York, NY received a Paycheck Protection Loan of $196,400 through Forbright Bank, which was approved in April, 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 February, 2021.

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 More
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.

Read More

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, Funders For Lesbian And Gay Issues, Inc's 2019 payroll expenses are estimated to be at least $942,720.

Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $85,702 per employee1

Reported PPP Proceed Usage:

On the PPP application, Funders For Lesbian And Gay Issues, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $196,400

Business Information - Funders For Lesbian And Gay Issues, Inc in New York, NY

Funders For Lesbian And Gay Issues, Inc
45 West 36th Street, 8th Floor
New York, NY 10018

Business Industry:
Other Social Advocacy Organizations
NAICS code 813319

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: New Business or 2 years or less

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, 62 businesses in the "Other Social Advocacy Organizations" industry received a PPP loan. These local businesses reported an average of 33 employees (compared to this company's 11) and received an average PPP loan of $376,924 (compared to this company's $196,400).

Industry PPP Comparison Statistics

Nationwide, 9,844 businesses in the "Other Social Advocacy Organizations" industry received a total of $1.43B 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 16 employees, 45% higher than Funders For Lesbian And Gay Issues, Inc's reported 11 employees, and received an average PPP loan of $145,144, 26% lower than this company's loan of $196,400.

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/funders-for-lesbian-and-gay-issues-inc-new-york-ny