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PPP Loan Data — Metrokids Cradle (Queens Center) Inc, New York, NY

SBA PPP loan data, payroll data, and salaries for Metrokids Cradle (Queens Center) Inc

Metrokids Cradle (Queens Center) Inc

Entity: Corporation

Industry: Child Day Care Services

Location: New York, NY

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Metrokids Cradle (Queens Center) Inc is a corporation located at 25 Market St in New York, New York that received a Coronavirus-related PPP loan from the SBA of $1,387,000.00 in April, 2020.

The company has reported itself as an Asian male owned business, and employed at least 190 people during the applicable loan loan period.

$ PPP Loan Information
Loan #7651167100

Loan Size:


Jobs Retained:


Loan Approved:


Loan Status:

Paid in Full or Forgiven


Hanmi Bank

Metrokids Cradle (Queens Center) Inc in New York, NY received a Paycheck Protection Loan of $1.39M through Hanmi Bank, 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 May, 2022.

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, Metrokids Cradle (Queens Center) Inc's 2019 payroll expenses are estimated to be at least $6.66M.

Based on their reported 190 jobs retained, this equals an estimated average yearly compensation of $35,040 per employee1

Reported PPP Proceed Usage:

On the PPP application, Metrokids Cradle (Queens Center) Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,387,000

Business Information - Metrokids Cradle (Queens Center) Inc in New York, NY

Metrokids Cradle (Queens Center) Inc
25 Market St
New York, NY 10002

Business Industry:
Child Day Care Services
NAICS code 624410

Business Owner Demographics

Race: Asian

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

New York County, NY — SBA Office 0202 — Congressional District: NY-07

Businesses Using Same Address:

There are 3 other businesses that received a PPP loan registered to the same address as Metrokids Cradle (Queens Center) Inc.

Metrokids Cradle (Brooklyn) Inc
Child Day Care Services

$579,000 PPP Loan

Metrokids Cradle (South End), Inc
Child Day Care Services

$956,000 PPP Loan

Preschool Of America (USA) Inc
Child Day Care Services

$1.56M PPP Loan

Similar Companies near New York

In the New York area, 38 businesses in the "Child Day Care Services" industry received a PPP loan. These local businesses reported an average of 21 employees (compared to this company's 190) and received an average PPP loan of $195,567 (compared to this company's $1.39M).

Industry PPP Comparison Statistics

Nationwide, 128,936 businesses in the "Child Day Care Services" industry received a total of $5.47B 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 8 employees, 96% lower than Metrokids Cradle (Queens Center) Inc's reported 190 employees, and received an average PPP loan of $42,425, 97% lower than this company's loan of $1.39M.

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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