NY Nonprofit Organization

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

Independent 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.

While this loan has been approved by the Small Business Administration, the lender has not reported to the SBA that the loan funds were disbursed to the borrower. According to SBA records, a total of $82,207 in approved PPP funding has not been disbursed. The loan's status was last updated by the SBA in March, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Based 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

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).

Industry PPP Comparison Statistics

Nationwide, 5,576 businesses in the "Internet Publishing and Broadcasting and Web Search Portals" industry received a total of $542,928,718.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 7 employees, 40% higher than Independent Media Institute's reported 5 employees, and received an average PPP loan of $97,369, 18% higher than this company's loan of $82,207.