PPP Loan Data — Gateway Longview, Inc, Buffalo, NY

NY Nonprofit Organization

Gateway Longview, Inc

Entity: Non-profit Organization

Industry: All Other Outpatient Care Centers

Location: Buffalo, NY

Gateway Longview, Inc is a non-profit organization located at 10 Symphony Circle in Buffalo, New York that received a Coronavirus-related PPP loan from the SBA of $3,835,472.00 in April, 2020.

The company has reported itself as a male owned non-profit, and employed at least 353 people during the applicable loan loan period.

$ PPP Loan Information
Loan #8388537100

Loan Size:

$3.84M

Jobs Retained:

353

Loan Approved:

2020-04-15

Loan Status:

Paid in Full or Forgiven

Lender:

Manufacturers and Traders Trust Company

Gateway Longview, Inc in Buffalo, NY received a Paycheck Protection Loan of $3.84M through Manufacturers and Traders Trust Company, 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 October, 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.

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.

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, Gateway Longview, Inc's 2019 payroll expenses are estimated to be at least $18.41M.

Based on their reported 353 jobs retained, this equals an estimated average yearly compensation of $52,154 per employee¹

Reported PPP Proceed Usage:

On the PPP application, Gateway Longview, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

Payroll: $3,409,012
Utilities: $38,066
Rent: $86,794
Health Care: $288,000
Debt Interest: $13,600

Because the loan received by Gateway Longview, 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 - Gateway Longview, Inc in Buffalo, NY

Gateway Longview, Inc
10 Symphony Circle
Buffalo, NY 14201

Business Industry:
All Other Outpatient Care Centers
NAICS code 621498

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: Y

Rural / Urban: Urban

Erie County, NY — SBA Office 0296 — Congressional District: NY-26

Industry PPP Comparison Statistics

Nationwide, 16,768 businesses in the "All Other Outpatient Care Centers" industry received a total of $1.74B 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 10 employees, 97% lower than Gateway Longview, Inc's reported 353 employees, and received an average PPP loan of $103,854, 97% lower than this company's loan of $3.84M.

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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