PPP Loan Data — Platinum Judgment Recovery LLC, New York, NY
Platinum Judgment Recovery LLC is a limited liability company (LLC) located at 1120 Ave Of The Americas 4th Fl in New York, New York that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Platinum Judgment Recovery LLC in New York, NY received a Paycheck Protection Loan of $25,000 through Signature Bank, 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 June, 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, Platinum Judgment Recovery LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Platinum Judgment Recovery LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Platinum Judgment Recovery LLC in New York, NY
1120 Ave Of The Americas 4th Fl
New York, NY 10036
NAICS code 561440
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near New York
In the New York area, 2 businesses in the "Collection Agencies" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 3) and received an average PPP loan of $20,625 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Heritage Collection Inc
New York, NY
Industry PPP Comparison Statistics
Nationwide, 2,910 businesses in the "Collection Agencies" industry received a total of $542.19M 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 Platinum Judgment Recovery LLC's reported 3 employees, and received an average PPP loan of $186,320, 645% higher than this company's loan of $25,000.
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Footnotes & Information
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