International Aids Vaccine Initiative, Inc is a non-profit organization located at 125 Broad St 9th Floor in New York, New York that received a Coronavirus-related PPP loan from the SBA of $3,429,355.00 in April, 2020.

$ PPP Loan Information

Loan #6581177102

International Aids Vaccine Initiative, Inc in New York, NY received a Paycheck Protection Loan of $3.43M through HSBC Bank USA, National Association, 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 October, 2021.

The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 147 jobs reported as retained on the PPP application³. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.

The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 165. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.

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, International Aids Vaccine Initiative, Inc's 2019 payroll expenses are estimated to be at least $16.46M (not accounting for salary amounts > $100k).

Because the 147 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.

Reported PPP Proceed Usage:

On the PPP application, International Aids Vaccine Initiative, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

• Payroll: $3,429,355

Business Information - International Aids Vaccine Initiative, Inc in New York, NY

Similar Companies near New York

In the New York area, 17 businesses in the "Grantmaking Foundations" industry received a PPP loan. These local businesses reported an average of 22 employees (compared to this company's 147) and received an average PPP loan of $431,931 (compared to this company's $3.43M).

Industry PPP Comparison Statistics

Nationwide, 4,605 businesses in the "Grantmaking Foundations" industry received a total of $554.72M 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 12 employees, 92% lower than International Aids Vaccine Initiative, Inc's reported 147 employees, and received an average PPP loan of $120,461, 96% lower than this company's loan of $3.43M.