PPP Loan Data — Imagine Staffing Technology Inc, Buffalo, NY
Imagine Staffing Technology Inc is a corporation located at 892 Main St in Buffalo, New York that received a Coronavirus-related PPP loan from the SBA of $4,364,065.00 in April, 2020.
The company has reported itself as a White female owned business, and employed at least 379 people during the applicable loan loan period.
$ PPP Loan Information
Lender:MANUFACTURERS AND TRADERS TRUST COMPANY
Imagine Staffing Technology Inc received a Paycheck Protection Loan of $4.36M through MANUFACTURERS AND TRADERS TRUST COMPANY, which was approved in April, 2020.
Based on standard PPP eligibility rules, Imagine Staffing Technology Inc's total 2019 payroll expenses were approximately $20.95M in order to qualify for the PPP loan amount received.
Based on their reported 379 jobs retained, this equals an estimated average yearly compensation of $55,270 per employee1.
Business Information - Imagine Staffing Technology Inc in Buffalo, NY
892 Main St
Buffalo, NY 14202
Temporary Help Services (NAICS code 561320)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: FEMALE OWNED
Veteran Status: NON-VETERANCongressional District: NY-26
Similar Companies near Buffalo
In the Buffalo area, 2 businesses in the "Temporary Help Services" industry received a PPP loan. These local businesses reported an average of 192 employees (compared to this company's 379) and received an average PPP loan of $2,251,033 (compared to this company's $4.36M).
Similar Nearby Businesses Who Received PPP Funding:
Construction Personnel Group Inc
Industry PPP Comparison Statistics
Nationwide, 4,404 businesses in the "Temporary Help Services" industry received a total of $2,681,304,257.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 61 employees, 84% lower than Imagine Staffing Technology Inc's reported 379 employees, and received an average PPP loan of $608,834, 86% lower than this company's loan of $4.36M.
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.
Footnotes & Information
1. 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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