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PPP Loan Data — Imagine Staffing Technology Inc, Buffalo, NY

SBA PPP loan data, payroll data, and salaries for Imagine Staffing Technology Inc
NY

Imagine Staffing Technology Inc

Entity: Corporation

Industry: Temporary Help Services

Location: Buffalo, NY

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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

Loan Size:

$4.36M

Jobs Retained:

379

Loan Approved:

2020-04-13

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.

Because the loan received by Imagine Staffing Technology 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 - Imagine Staffing Technology Inc in Buffalo, NY

Imagine Staffing Technology Inc
892 Main St
Buffalo, NY 14202

Business Industry

Temporary Help Services (NAICS code 561320)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: FEMALE OWNED

Veteran Status: NON-VETERAN

Congressional 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
Buffalo, NY

$138,000 PPP Loan

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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/imagine-staffing-technology-inc-buffalo-ny