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PPP Loan Data — Giant Spoon LLC,
New York, NY
Giant Spoon LLC
Entity: Limited Liability Company (LLC)
Industry: Advertising Agencies
Location: New York, NY
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Giant Spoon LLC is a limited liability company (LLC) located at 44 Wall St Fl 3 in New York, New York that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.
$
PPP Loan Information
Loan #2643938502
Loan Size:
Jobs Retained:
148Loan Approved:
2021-02-22Loan Status:
Paid in Full or ForgivenLender:
First Republic BankGiant Spoon LLC in New York, NY received a Paycheck Protection Loan of $2M through First Republic 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 January, 2022.
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, Giant Spoon LLC's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 148 jobs retained, this equals an estimated average yearly compensation of $64,865 per employee1
Reported PPP Proceed Usage:
On the PPP application, Giant Spoon LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,997
- Utilities: $1
Business Information - Giant Spoon LLC in New York, NY
44 Wall St Fl 3
New York, NY 10005
Business Industry:
Advertising Agencies
NAICS code 541810
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near New York
In the New York area, 39 businesses in the "Advertising Agencies" industry received a PPP loan. These local businesses reported an average of 30 employees (compared to this company's 148) and received an average PPP loan of $545,113 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
AD Infinitum, Inc
New York, NY
Fantasy Interactive Inc
New York, NY
Skilled Creative LLC
New York, NY
Loyalkaspar, Inc
New York, NY
Urban Ft (North America) LLC
New York, NY
Latest Edge LLC
New York, NY
Bold Worldwide, Inc
New York, NY
OBM Group, Inc
New York, NY
Charmed Advertising Services Inc
New York, NY
Industry PPP Comparison Statistics
Nationwide, 23,792 businesses in the "Advertising Agencies" industry received a total of $2.39B 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 7 employees, 95% lower than Giant Spoon LLC's reported 148 employees, and received an average PPP loan of $100,455, 95% lower than this company's loan of $2M.
Giant Spoon LLC
Entity: Limited Liability Company (LLC)
Industry: Advertising Agencies
Location: New York, NY
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•
Search All PPP Data
Giant Spoon LLC is a limited liability company (LLC) located at 44 Wall St in New York, New York that received a Coronavirus-related PPP loan from the SBA of $4,146,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 215 people during the applicable loan loan period.
$
PPP Loan Information
Loan #4066737100
Loan Size:
Jobs Retained:
215Loan Approved:
2020-04-12Loan Status:
Paid in Full or ForgivenLender:
First Republic BankGiant Spoon LLC in New York, NY received a Paycheck Protection Loan of $4.15M through First Republic 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 July, 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, Giant Spoon LLC's 2019 payroll expenses are estimated to be at least $19.9M.
Based on their reported 215 jobs retained, this equals an estimated average yearly compensation of $92,562 per employee1
Reported PPP Proceed Usage:
On the PPP application, Giant Spoon LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,146,000
Business Information - Giant Spoon LLC in New York, NY
44 Wall St
New York, NY 10005
Business Industry:
Advertising Agencies
NAICS code 541810
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: N
Rural / Urban: Urban
Similar Companies near New York
In the New York area, 39 businesses in the "Advertising Agencies" industry received a PPP loan. These local businesses reported an average of 30 employees (compared to this company's 215) and received an average PPP loan of $545,113 (compared to this company's $4.15M).
Similar Nearby Businesses Who Received PPP Funding:
AD Infinitum, Inc
New York, NY
Fantasy Interactive Inc
New York, NY
Skilled Creative LLC
New York, NY
Loyalkaspar, Inc
New York, NY
Urban Ft (North America) LLC
New York, NY
Latest Edge LLC
New York, NY
Bold Worldwide, Inc
New York, NY
OBM Group, Inc
New York, NY
Charmed Advertising Services Inc
New York, NY
Industry PPP Comparison Statistics
Nationwide, 23,792 businesses in the "Advertising Agencies" industry received a total of $2.39B 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 7 employees, 97% lower than Giant Spoon LLC's reported 215 employees, and received an average PPP loan of $100,455, 98% lower than this company's loan of $4.15M.
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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