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PPP Loan Data — Funders For Lesbian And Gay Issues Inc,
New York, NY
Funders For Lesbian And Gay Issues Inc
Entity: Corporation
Industry: Other Social Advocacy Organizations
Location: New York, NY
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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:
Jobs Retained:
9Loan Approved:
2021-02-01Loan Status:
Paid in Full or ForgivenLender:
Forbright BankFunders 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 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, 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
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
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
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).
Similar Nearby Businesses Who Received PPP Funding:
The New York Housing Conference
New York, NY
Multiplying Good Inc
New York, NY
Project Sunshine, Inc
New York, NY
Theatre Forward Inc
New York, NY
The North Star Fund, Inc
New York, NY
Lava Devco, LLC
New York, NY
Movement For Justice El Barrrio Inc
New York, NY
Qnary LLC
New York, NY
Park 51, Inc
New York, NY
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.
Funders For Lesbian And Gay Issues, Inc
Entity: Corporation
Industry: Other Social Advocacy Organizations
Location: New York, NY
Tweet This
•
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:
Jobs Retained:
11Loan Approved:
2020-04-27Loan Status:
Paid in Full or ForgivenLender:
Forbright BankFunders 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 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, 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
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
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).
Similar Nearby Businesses Who Received PPP Funding:
The New York Housing Conference
New York, NY
Multiplying Good Inc
New York, NY
Project Sunshine, Inc
New York, NY
Theatre Forward Inc
New York, NY
The North Star Fund, Inc
New York, NY
Lava Devco, LLC
New York, NY
Movement For Justice El Barrrio Inc
New York, NY
Qnary LLC
New York, NY
Park 51, Inc
New York, NY
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.
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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