PPP Loan Data — Joan's 5Th Avenue Inc, Brooklyn, NY
Joan's 5Th Avenue Inc
Entity: Sole Proprietorship
Location: Brooklyn, NYTweet This • Search All PPP Data
Joan's 5Th Avenue Inc is a sole proprietorship located at 5404 5th Avenue in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $25,250.00 in June, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Cross River Bank
Joan's 5Th Avenue Inc in Brooklyn, NY received a Paycheck Protection Loan of $25,250 through Cross River Bank, which was approved in June, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, Joan's 5Th Avenue Inc's 2019 payroll expenses are estimated to be at least $121,200.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,400 per employee1
Reported PPP Proceed Usage:
On the PPP application, Joan's 5Th Avenue Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,250
Business Information - Joan's 5Th Avenue Inc in Brooklyn, NY
5404 5th Avenue
Brooklyn, NY 11220
All Other Miscellaneous Store Retailers (except Tobacco Stores)
NAICS code 453998
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Brooklyn
In the Brooklyn area, 122 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 3) and received an average PPP loan of $42,499 (compared to this company's $25,250).
Similar Nearby Businesses Who Received PPP Funding:
DJ Sports One, Inc
717 Angela's Bakery Corp
Pink Balloon Inc
FM& A Food Market LLC
Patchen Gourmet Grill Corp
Industry PPP Comparison Statistics
Nationwide, 152,436 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a total of $5.23B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 4 employees, 33% higher than Joan's 5Th Avenue Inc's reported 3 employees, and received an average PPP loan of $34,329, 36% higher than this company's loan of $25,250.
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Footnotes & Information
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