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PPP Loan Data — National Cares Mentoring Movement Inc,
New York, NY
National Cares Mentoring Movement Inc
Entity: Corporation
Industry: Human Rights Organizations
Location: New York, NY
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National Cares Mentoring Movement Inc is a corporation located at 5 Penn Plaza in New York, New York that received a Coronavirus-related PPP loan from the SBA of $257,000.00 in April, 2020.
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PPP Loan Information
Loan #5396887107
Loan Size:
Jobs Retained:
46Loan Approved:
2020-04-13Loan Status:
Paid in Full or ForgivenLender:
Newtek Small Business Finance, Inc.National Cares Mentoring Movement Inc in New York, NY received a Paycheck Protection Loan of $257,000 through Newtek Small Business Finance, Inc., 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 February, 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 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, National Cares Mentoring Movement Inc's 2019 payroll expenses are estimated to be at least $1.23M.
Based on their reported 46 jobs retained, this equals an estimated average yearly compensation of $26,817 per employee1
Reported PPP Proceed Usage:
On the PPP application, National Cares Mentoring Movement Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $257,000
Business Information - National Cares Mentoring Movement Inc in New York, NY
5 Penn Plaza
New York, NY 10001
Business Industry:
Human Rights Organizations
NAICS code 813311
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
Businesses Using Same Address:
There are 5 other businesses that received a PPP loan registered to the same address as National Cares Mentoring Movement Inc.
CafÉ Cinq Inc
Full-Service Restaurants
Kitchen Public Relations, LLC
Unknown
CMP Protective And Investigative Group, Inc
All Other Professional, Scientific, and Technical Services
Caastle
Electronic Shopping and Mail-Order Houses
HLW International LLP
Architectural Services
Similar Companies near New York
In the New York area, 17 businesses in the "Human Rights Organizations" industry received a PPP loan. These local businesses reported an average of 24 employees (compared to this company's 46) and received an average PPP loan of $404,297 (compared to this company's $257,000).
Similar Nearby Businesses Who Received PPP Funding:
North Korea Strategy Center U.s., Inc
New York, NY
Ideas Beyond Borders
New York, NY
The Global Hunger Project Incorporated
New York, NY
Amnesty International Of The USA, Inc
New York, NY
China Labor Watch Inc
New York, NY
Women's Justice Now
New York, NY
Partners For Progressive Israel
New York, NY
The Committee Against Anti-Asian Violence, Inc
New York, NY
Industry PPP Comparison Statistics
Nationwide, 1,142 businesses in the "Human Rights Organizations" industry received a total of $201.14M 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 18 employees, 61% lower than National Cares Mentoring Movement Inc's reported 46 employees, and received an average PPP loan of $176,133, 31% lower than this company's loan of $257,000.
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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