PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Multicultural Radio Broadcasting Inc, New York, NY

ALERT: There are 2 PPP loans for a total of $3.5M in our database for businesses with the name "Multicultural Radio Broadcasting Inc" in New York, NY. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Multicultural Radio Broadcasting Inc
NY

Multicultural Radio Broadcasting Inc

Entity: Corporation

Industry: Radio Stations

Location: New York, NY

Search All PPP Data

Multicultural Radio Broadcasting Inc is a corporation located at 40 Exchange Pl Ste 1010 in New York, New York that received a Coronavirus-related PPP loan from the SBA of $1,607,892.00 in February, 2021.

$ PPP Loan Information
Loan #1879468407

Loan Size:

$1.61M

Jobs Retained:

233

Loan Approved:

2021-02-02

Loan Status:

Ongoing Loan

Lender:

Preferred Bank

Multicultural Radio Broadcasting Inc in New York, NY received a Paycheck Protection Loan of $1.61M through Preferred Bank, which was approved in February, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

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, Multicultural Radio Broadcasting Inc's 2019 payroll expenses are estimated to be at least $7.72M.

Based on their reported 233 jobs retained, this equals an estimated average yearly compensation of $33,124 per employee1

Reported PPP Proceed Usage:

On the PPP application, Multicultural Radio Broadcasting Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,607,892

Business Information - Multicultural Radio Broadcasting Inc in New York, NY

Multicultural Radio Broadcasting Inc
40 Exchange Pl Ste 1010
New York, NY 10005

Business Industry:
Radio Stations
NAICS code 515112

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-10

Similar Companies near New York

In the New York area, 2 businesses in the "Radio Stations" industry received a PPP loan. These local businesses reported an average of 118 employees (compared to this company's 233) and received an average PPP loan of $823,401 (compared to this company's $1.61M).

Similar Nearby Businesses Who Received PPP Funding:

Kali-Fm Inc
New York, NY

$38,910 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 3,733 businesses in the "Radio Stations" industry received a total of $451.76M 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 14 employees, 94% lower than Multicultural Radio Broadcasting Inc's reported 233 employees, and received an average PPP loan of $121,017, 92% lower than this company's loan of $1.61M.

SBA PPP loan data, payroll data, and salaries for Multicultural Radio Broadcasting Inc
NY

Multicultural Radio Broadcasting Inc

Entity: Corporation

Industry: Radio Networks

Location: New York, NY

Search All PPP Data

Multicultural Radio Broadcasting Inc is a corporation located at 40 Exchange Pl Suite 1010 in New York, New York that received a Coronavirus-related PPP loan from the SBA of $1,887,512.00 in April, 2020.

$ PPP Loan Information
Loan #2186897206

Loan Size:

$1.89M

Jobs Retained:

264

Loan Approved:

2020-04-15

Loan Status:

Ongoing Loan

Lender:

Preferred Bank

Multicultural Radio Broadcasting Inc in New York, NY received a Paycheck Protection Loan of $1.89M through Preferred Bank, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

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, Multicultural Radio Broadcasting Inc's 2019 payroll expenses are estimated to be at least $9.06M.

Based on their reported 264 jobs retained, this equals an estimated average yearly compensation of $34,318 per employee1

Reported PPP Proceed Usage:

On the PPP application, Multicultural Radio Broadcasting Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,887,512

Business Information - Multicultural Radio Broadcasting Inc in New York, NY

Multicultural Radio Broadcasting Inc
40 Exchange Pl Suite 1010
New York, NY 10005

Business Industry:
Radio Networks
NAICS code 515111

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-10

Similar Companies near New York

In the New York area, 6 businesses in the "Radio Networks" industry received a PPP loan. These local businesses reported an average of 64 employees (compared to this company's 264) and received an average PPP loan of $475,807 (compared to this company's $1.89M).

Industry PPP Comparison Statistics

Nationwide, 888 businesses in the "Radio Networks" industry received a total of $119.16M 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 13 employees, 95% lower than Multicultural Radio Broadcasting Inc's reported 264 employees, and received an average PPP loan of $134,191, 93% lower than this company's loan of $1.89M.

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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/multicultural-radio-broadcasting-inc-new-york-ny