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PPP Loan Data — My Gym Lincoln Center Inc,
New York, NY
FRANCHISE
NYMy Gym Lincoln Center Inc
Entity: Subchapter S Corporation
Industry: Child and Youth Services
Franchise: My Gym
Location: New York, NY
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My Gym Lincoln Center Inc is a subchapter s corporation located at 22 W 66th St in New York, New York that received a Coronavirus-related PPP loan from the SBA of $8,949.00 in January, 2021. This business is a My Gym franchise.
The company has reported itself as a female owned business, and employed at least three people during the applicable loan loan period.
$
PPP Loan Information
Loan #5873308304
Loan Size:
Jobs Retained:
3Loan Approved:
2021-01-26Loan Status:
Paid in Full or ForgivenLender:
Webster Bank, National AssociationMy Gym Lincoln Center Inc in New York, NY received a Paycheck Protection Loan of $8,949 through Webster Bank, National Association, which was approved in January, 2021.
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 September, 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, My Gym Lincoln Center Inc's 2019 payroll expenses are estimated to be at least $42,955.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $14,318 per employee1
Reported PPP Proceed Usage:
On the PPP application, My Gym Lincoln Center Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $8,947
- Utilities: $1
Business Information - My Gym Lincoln Center Inc in New York, NY
22 W 66th St
New York, NY 10023
Business Industry:
Child and Youth Services
NAICS code 624110
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
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, 10 businesses in the "Child and Youth Services" industry received a PPP loan. These local businesses reported an average of 54 employees (compared to this company's 3) and received an average PPP loan of $942,829 (compared to this company's $8,949).
Similar Nearby Businesses Who Received PPP Funding:
Catholic Guardian Services
New York, NY
Discovery Programs Inc
New York, NY
Sussman Counseling Lcsw
New York, NY
Big Apple Youth Sports Inc
Nyc, NY
Big Apple Youth Sports Inc
New York, NY
National Council Of Jewish Women New York Section
New York, NY
Family Publications LTD
New York, NY
Helpusadopt.org
New York, NY
Industry PPP Comparison Statistics
Nationwide, 14,411 businesses in the "Child and Youth Services" industry received a total of $1.94B 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 19 employees, 533% higher than My Gym Lincoln Center Inc's reported 3 employees, and received an average PPP loan of $134,454, 1402% higher than this company's loan of $8,949.
My Gym Lincoln Center Inc
Entity: Subchapter S Corporation
Industry: Child and Youth Services
Location: New York, NY
Tweet This
•
Search All PPP Data
My Gym Lincoln Center Inc is a subchapter s corporation located at 22 West 66th St in New York, New York that received a Coronavirus-related PPP loan from the SBA of $8,949.00 in April, 2020.
$
PPP Loan Information
Loan #4666687309
Loan Size:
Jobs Retained:
3Loan Approved:
2020-04-30Loan Status:
Paid in Full or ForgivenLender:
Webster Bank, National AssociationMy Gym Lincoln Center Inc in New York, NY received a Paycheck Protection Loan of $8,949 through Webster 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 August, 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, My Gym Lincoln Center Inc's 2019 payroll expenses are estimated to be at least $42,955.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $14,318 per employee1
Reported PPP Proceed Usage:
On the PPP application, My Gym Lincoln Center Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $8,949
Business Information - My Gym Lincoln Center Inc in New York, NY
22 West 66th St
New York, NY 10022
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:
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near New York
In the New York area, 8 businesses in the "Child and Youth Services" industry received a PPP loan. These local businesses reported an average of 67 employees (compared to this company's 3) and received an average PPP loan of $1,169,181 (compared to this company's $8,949).
Similar Nearby Businesses Who Received PPP Funding:
J Gerald Young, MD. & Associates, PC
New York, NY
Catholic Guardian Services
New York, NY
The New York Center For Children
New York, NY
Helpusadopt.org
New York, NY
Family Publications LTD
New York, NY
National Council Of Jewish Women New York Section
New York, NY
Industry PPP Comparison Statistics
Nationwide, 14,411 businesses in the "Child and Youth Services" industry received a total of $1.94B 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 19 employees, 533% higher than My Gym Lincoln Center Inc's reported 3 employees, and received an average PPP loan of $134,454, 1402% higher than this company's loan of $8,949.
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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