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PPP Loan Data — Independent Media Institute,
New York, NY
Independent Media Institute
Entity: Non-profit Organization
Industry: Internet Publishing and Broadcasting and Web Search Portals
Location: New York, NY
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Independent Media Institute is a non-profit organization located at 18 W 21st St Ste 901 in New York, New York that received a Coronavirus-related PPP loan from the SBA of $82,207.00 in March, 2021.
$
PPP Loan Information
Loan #5685428504
Loan Size:
Jobs Retained:
5Loan Approved:
2021-03-01Loan Status:
Ongoing LoanLender:
Wells Fargo Bank, National AssociationIndependent Media Institute in New York, NY received a Paycheck Protection Loan of $82,207 through Wells Fargo Bank, National Association, which was approved in March, 2021.
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, Independent Media Institute's 2019 payroll expenses are estimated to be at least $394,594.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $78,919 per employee1
Reported PPP Proceed Usage:
On the PPP application, Independent Media Institute reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $82,205
- Utilities: $1
Business Information - Independent Media Institute in New York, NY
18 W 21st St Ste 901
New York, NY 10010
Business Industry:
Internet Publishing and Broadcasting and Web Search Portals
NAICS code 519130
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
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, 21 businesses in the "Internet Publishing and Broadcasting and Web Search Portals" industry received a PPP loan. These local businesses reported an average of 49 employees (compared to this company's 5) and received an average PPP loan of $921,014 (compared to this company's $82,207).
Similar Nearby Businesses Who Received PPP Funding:
Creative Expansions, Inc
New York, NY
Expo Communications, Inc
New York, NY
Theskimm, Inc
New York, NY
Vericred, Inc
New York, NY
SDH Ventures LLC
New York, NY
Writerjudy Inc
New York, NY
Jack Russell Holdings, LLC
New York, NY
Fathom Unlimited Inc
New York, NY
Index Exchange USA, LLC
New York, NY
Industry PPP Comparison Statistics
Nationwide, 11,835 businesses in the "Internet Publishing and Broadcasting and Web Search Portals" industry received a total of $676.94M 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 4 employees, 20% lower than Independent Media Institute's reported 5 employees, and received an average PPP loan of $57,198, 30% lower than this company's loan of $82,207.
Independent Media Institute
Entity: Non-profit Organization
Industry: Internet Publishing and Broadcasting and Web Search Portals
Location: New York, NY
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•
Search All PPP Data
Independent Media Institute is a non-profit organization located at Ste 901 18 W 21st St in New York, New York that received a Coronavirus-related PPP loan from the SBA of $83,562.00 in April, 2020.
$
PPP Loan Information
Loan #2552857304
Loan Size:
Jobs Retained:
5Loan Approved:
2020-04-29Loan Status:
Ongoing LoanLender:
Cross River BankIndependent Media Institute in New York, NY received a Paycheck Protection Loan of $83,562 through Cross River Bank, 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, Independent Media Institute's 2019 payroll expenses are estimated to be at least $401,098.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $80,220 per employee1
Reported PPP Proceed Usage:
On the PPP application, Independent Media Institute reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $83,562
Business Information - Independent Media Institute in New York, NY
Ste 901 18 W 21st St
New York, NY 10010
Business Industry:
Internet Publishing and Broadcasting and Web Search Portals
NAICS code 519130
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age:
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near New York
In the New York area, 21 businesses in the "Internet Publishing and Broadcasting and Web Search Portals" industry received a PPP loan. These local businesses reported an average of 49 employees (compared to this company's 5) and received an average PPP loan of $921,014 (compared to this company's $83,562).
Similar Nearby Businesses Who Received PPP Funding:
Creative Expansions, Inc
New York, NY
Expo Communications, Inc
New York, NY
Theskimm, Inc
New York, NY
Vericred, Inc
New York, NY
SDH Ventures LLC
New York, NY
Writerjudy Inc
New York, NY
Jack Russell Holdings, LLC
New York, NY
Fathom Unlimited Inc
New York, NY
Index Exchange USA, LLC
New York, NY
Industry PPP Comparison Statistics
Nationwide, 11,835 businesses in the "Internet Publishing and Broadcasting and Web Search Portals" industry received a total of $676.94M 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 4 employees, 20% lower than Independent Media Institute's reported 5 employees, and received an average PPP loan of $57,198, 32% lower than this company's loan of $83,562.
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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