PPP Loan Data — Ngagency Inc, Brooklyn, NY
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Ngagency Inc is a corporation located at 240 Kent Ave in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $46,500.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:BMO Harris Bank National Association
Ngagency Inc in Brooklyn, NY received a Paycheck Protection Loan of $46,500 through BMO Harris 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 April, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, Ngagency Inc's 2019 payroll expenses are estimated to be at least $223,200.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $55,800 per employee1
Reported PPP Proceed Usage:
On the PPP application, Ngagency Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,500
Business Information - Ngagency Inc in Brooklyn, NY
240 Kent Ave
Brooklyn, NY 11249
Agents and Managers for Artists, Athletes, Entertainers, and Other Public Figures
NAICS code 711410
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Brooklyn
In the Brooklyn area, 4 businesses in the "Agents and Managers for Artists, Athletes, Entertainers, and Other Public Figures" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 4) and received an average PPP loan of $38,274 (compared to this company's $46,500).
Similar Nearby Businesses Who Received PPP Funding:
Inspired SP Inc
Fusion Modeling Agency LLC
Industry PPP Comparison Statistics
Nationwide, 18,430 businesses in the "Agents and Managers for Artists, Athletes, Entertainers, and Other Public Figures" industry received a total of $593.92M 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 3 employees, 25% lower than Ngagency Inc's reported 4 employees, and received an average PPP loan of $32,226, 31% lower than this company's loan of $46,500.
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Footnotes & Information
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