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PPP Loan Data — Ghughes Group Inc,
Long Island City, NY
FRANCHISE
NYGhughes Group Inc
Entity: Subchapter S Corporation
Industry: Employment Placement Agencies
Franchise: Express Employment Professional
Location: Long Island City, NY
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Ghughes Group Inc is a subchapter s corporation located at 44 02 11th St Room #616 in Long Island City, New York that received a Coronavirus-related PPP loan from the SBA of $43,837.00 in April, 2020. This business is a Express Employment Professional franchise.
The company has reported itself as a male owned business, and employed at least four people during the applicable loan loan period.
$
PPP Loan Information
Loan #8673017205
Loan Size:
Jobs Retained:
4Loan Approved:
2020-04-28Loan Status:
Ongoing LoanLender:
Loan Source IncorporatedGhughes Group Inc in Long Island City, NY received a Paycheck Protection Loan of $43,837 through Loan Source Incorporated, which was approved in April, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, Ghughes Group Inc's 2019 payroll expenses are estimated to be at least $210,418.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $52,605 per employee1
Reported PPP Proceed Usage:
On the PPP application, Ghughes Group Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $43,837
Business Information - Ghughes Group Inc in Long Island City, NY
44 02 11th St Room #616
Long Island City, NY 11101
Business Industry:
Employment Placement Agencies
NAICS code 561311
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Unreported
Business Demographics
Business Age:
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Long Island City
In the Long Island City area, 17 businesses in the "Employment Placement Agencies" industry received a PPP loan. These local businesses reported an average of 25 employees (compared to this company's 4) and received an average PPP loan of $306,600 (compared to this company's $43,837).
Similar Nearby Businesses Who Received PPP Funding:
Clear Talent LLC
Long Island City, NY
RWS And Associates Entertainment, Inc
Long Island City, NY
Continuity Partners Inc
Long Island City, NY
All In One Services Internatonal, Inc
Astoria, NY
Stephen D Hans & Associates PC
Long Island City, NY
Association Of Community Employment Prog
Long Island City, NY
All In One Services Agency Inc
Astoria, NY
All Aces Promotional Staffing Inc
New York, NY
Industry PPP Comparison Statistics
Nationwide, 11,419 businesses in the "Employment Placement Agencies" industry received a total of $3.37B 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 37 employees, 825% higher than Ghughes Group Inc's reported 4 employees, and received an average PPP loan of $294,839, 573% higher than this company's loan of $43,837.
FRANCHISE
NYGhughes Group Inc
Entity: Subchapter S Corporation
Industry: Employment Placement Agencies
Franchise: Express Employment Professional
Location: Long Island City, NY
Tweet This
•
Search All PPP Data
Ghughes Group Inc is a subchapter s corporation located at 44 02 11th St Room #616 in Long Island City, New York that received a Coronavirus-related PPP loan from the SBA of $43,837.00 in April, 2020. This business is a Express Employment Professional franchise.
The company has reported itself as a male owned business, and employed at least four people during the applicable loan loan period.
$
PPP Loan Information
Loan #8673017205
Loan Size:
Jobs Retained:
4Loan Approved:
2020-04-28Loan Status:
Ongoing LoanLender:
Loan Source IncorporatedGhughes Group Inc in Long Island City, NY received a Paycheck Protection Loan of $43,837 through Loan Source Incorporated, which was approved in April, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, Ghughes Group Inc's 2019 payroll expenses are estimated to be at least $210,418.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $52,605 per employee1
Reported PPP Proceed Usage:
On the PPP application, Ghughes Group Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $43,837
Business Information - Ghughes Group Inc in Long Island City, NY
44 02 11th St Room #616
Long Island City, NY 11101
Business Industry:
Employment Placement Agencies
NAICS code 561311
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Unreported
Business Demographics
Business Age:
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Long Island City
In the Long Island City area, 17 businesses in the "Employment Placement Agencies" industry received a PPP loan. These local businesses reported an average of 25 employees (compared to this company's 4) and received an average PPP loan of $306,600 (compared to this company's $43,837).
Similar Nearby Businesses Who Received PPP Funding:
Clear Talent LLC
Long Island City, NY
RWS And Associates Entertainment, Inc
Long Island City, NY
Continuity Partners Inc
Long Island City, NY
All In One Services Internatonal, Inc
Astoria, NY
Stephen D Hans & Associates PC
Long Island City, NY
Association Of Community Employment Prog
Long Island City, NY
All In One Services Agency Inc
Astoria, NY
All Aces Promotional Staffing Inc
New York, NY
Industry PPP Comparison Statistics
Nationwide, 11,419 businesses in the "Employment Placement Agencies" industry received a total of $3.37B 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 37 employees, 825% higher than Ghughes Group Inc's reported 4 employees, and received an average PPP loan of $294,839, 573% higher than this company's loan of $43,837.
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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