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

PPP Loan Data — New York City Center Inc, New York, NY

ALERT: There are 2 PPP loans for a total of $3.76M in our database for businesses with the name "New York City Center 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 New York City Center Inc
NY

New York City Center Inc

Entity: Limited Liability Company (LLC)

Industry: Theater Companies and Dinner Theaters

Location: New York, NY

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New York City Center Inc is a limited liability company (LLC) located at 130 W 56th St in New York, New York that received a Coronavirus-related PPP loan from the SBA of $1,075,317.00 in March, 2021.

$ PPP Loan Information Loan #1080148709

Loan Size:

$1.08M
PPP Funds Undisbursed

Jobs Retained:

66

Loan Approved:

2021-03-26

Loan Status:

Active Un-Disbursed

Lender:

Manufacturers and Traders Trust Company

New York City Center Inc in New York, NY received a Paycheck Protection Loan of $1.08M through Manufacturers and Traders Trust Company, which was approved in March, 2021.

While this loan has been approved by the Small Business Administration, the lender has not reported to the SBA that the loan funds were disbursed to the borrower. According to SBA records, a total of $1.08M in approved PPP funding has not been disbursed. The loan's status was last updated by the SBA in March, 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 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, New York City Center Inc's 2019 payroll expenses are estimated to be at least $5.16M.

Based on their reported 66 jobs retained, this equals an estimated average yearly compensation of $78,205 per employee1

Reported PPP Proceed Usage:

On the PPP application, New York City Center Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,075,316

Business Information - New York City Center Inc in New York, NY

New York City Center Inc
130 W 56th St
New York, NY 10019

Business Industry:
Theater Companies and Dinner Theaters
NAICS code 711110

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-12

Similar Companies near New York

In the New York area, 68 businesses in the "Theater Companies and Dinner Theaters" industry received a PPP loan. These local businesses reported an average of 24 employees (compared to this company's 66) and received an average PPP loan of $198,664 (compared to this company's $1.08M).

Industry PPP Comparison Statistics

Nationwide, 5,934 businesses in the "Theater Companies and Dinner Theaters" industry received a total of $588,553,285.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 16 employees, 76% lower than New York City Center Inc's reported 66 employees, and received an average PPP loan of $99,183, 91% lower than this company's loan of $1.08M.

SBA PPP loan data, payroll data, and salaries for New York City Center Inc
NY

New York City Center Inc

Entity: Limited Liability Company (LLC)

Industry: Other Performing Arts Companies

Location: New York, NY

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New York City Center Inc is a limited liability company (LLC) located at 130 West 56th Street in New York, New York that received a Coronavirus-related PPP loan from the SBA of $2,687,507.00 in April, 2020.

$ PPP Loan Information Loan #9428717106

Loan Size:

$2.69M

Jobs Retained:

194

Loan Approved:

2020-04-15

Loan Status:

Ongoing Loan

Lender:

Manufacturers and Traders Trust Company

New York City Center Inc in New York, NY received a Paycheck Protection Loan of $2.69M through Manufacturers and Traders Trust Company, 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, New York City Center Inc's 2019 payroll expenses are estimated to be at least $12.9M.

Based on their reported 194 jobs retained, this equals an estimated average yearly compensation of $66,495 per employee1

Reported PPP Proceed Usage:

On the PPP application, New York City Center Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,914,383
  • Utilities: $671,877
  • Health Care: $101,247
Because the loan received by New York City Center Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - New York City Center Inc in New York, NY

New York City Center Inc
130 West 56th Street
New York, NY 10019

Business Industry:
Other Performing Arts Companies
NAICS code 711190

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, 54 businesses in the "Other Performing Arts Companies" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 194) and received an average PPP loan of $95,739 (compared to this company's $2.69M).

Industry PPP Comparison Statistics

Nationwide, 18,725 businesses in the "Other Performing Arts Companies" industry received a total of $593,728,035.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 4 employees, 98% lower than New York City Center Inc's reported 194 employees, and received an average PPP loan of $31,708, 99% lower than this company's loan of $2.69M.

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/new-york-city-center-inc-new-york-ny