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PPP Loan Data — Marymount School Of New York,
New York, NY
Marymount School Of New York
Entity: Corporation
Industry: Office Administrative Services
Location: New York, NY
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Marymount School Of New York is a corporation located at 1026 Fifth Avenue in New York, New York that received a Coronavirus-related PPP loan from the SBA of $4,001,900.00 in April, 2020.
$
PPP Loan Information
Loan #4905627202
Loan Size:
Jobs Retained:
432Loan Approved:
2020-04-27Loan Status:
Paid in Full or ForgivenLender:
MUFG Union Bank, National AssociationMarymount School Of New York in New York, NY received a Paycheck Protection Loan of $4M through MUFG Union Bank, 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 July, 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 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, Marymount School Of New York's 2019 payroll expenses are estimated to be at least $19.21M.
Based on their reported 432 jobs retained, this equals an estimated average yearly compensation of $44,466 per employee1
Reported PPP Proceed Usage:
On the PPP application, Marymount School Of New York reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,001,900
Business Information - Marymount School Of New York in New York, NY
1026 Fifth Avenue
New York, NY 10028
Business Industry:
Office Administrative Services
NAICS code 561110
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, 28 businesses in the "Office Administrative Services" industry received a PPP loan. These local businesses reported an average of 20 employees (compared to this company's 432) and received an average PPP loan of $175,672 (compared to this company's $4M).
Similar Nearby Businesses Who Received PPP Funding:
Gortaroe Construction Of New York Inc
New York, NY
125Th Street Dso LLC
New York, NY
Gondor Capital Management LLC
New York, NY
Shirniece Moore
New York, NY
Gourmet Foundry Corporation
New York, NY
Linnette Cruz
New York, NY
David Graham Locations Inc
New York, NY
Orpheus Management Corp
New York, NY
Kent Street Commons LLC
New York, NY
Industry PPP Comparison Statistics
Nationwide, 43,695 businesses in the "Office Administrative Services" industry received a total of $2.34B 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 6 employees, 99% lower than Marymount School Of New York's reported 432 employees, and received an average PPP loan of $53,548, 99% lower than this company's loan of $4M.
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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