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PPP Loan Data — J Gerald Young, MD. & Associates, PC, New York, NY

SBA PPP loan data, payroll data, and salaries for J Gerald Young, MD. & Associates, PC
NY

J Gerald Young, MD. & Associates, PC

Entity: Sole Proprietorship

Industry: Child and Youth Services

Location: New York, NY

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J Gerald Young, MD. & Associates, PC is a sole proprietorship located at 16 1/2 East 74th Street in New York, New York that received a Coronavirus-related PPP loan from the SBA of $12,845.00 in May, 2020.

$ PPP Loan Information
Loan #7837877404

Loan Size:

$12,845

Jobs Retained:

2

Loan Approved:

2020-05-17

Loan Status:

Paid in Full or Forgiven

Lender:

American Express National Bank

J Gerald Young, MD. & Associates, PC in New York, NY received a Paycheck Protection Loan of $12,845 through American Express National Bank, which was approved in May, 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 March, 2021.

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 More
Understanding 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 More

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, J Gerald Young, MD. & Associates, PC's 2019 payroll expenses are estimated to be at least $61,656.

Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $30,828 per employee1

Reported PPP Proceed Usage:

On the PPP application, J Gerald Young, MD. & Associates, PC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $7,322
  • Rent: $4,239
  • Health Care: $1,285

Business Information - J Gerald Young, MD. & Associates, PC in New York, NY

J Gerald Young, MD. & Associates, PC
16 1/2 East 74th Street
New York, NY 10021

Business Industry:
Child and Youth Services
NAICS code 624110

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

New York County, NY — SBA Office 0202 — Congressional District: NY-12

Similar Companies near New York

In the New York area, 5 businesses in the "Child and Youth Services" industry received a PPP loan. These local businesses reported an average of 104 employees (compared to this company's 2) and received an average PPP loan of $1,840,659 (compared to this company's $12,845).

Industry PPP Comparison Statistics

Nationwide, 14,787 businesses in the "Child and Youth Services" industry received a total of $1.95B 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 18 employees, 800% higher than J Gerald Young, MD. & Associates, PC's reported 2 employees, and received an average PPP loan of $131,654, 925% higher than this company's loan of $12,845.

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.

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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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Source: www.federalpay.org/paycheck-protection-program/j-gerald-young-md-associates-pc-new-york-ny