PPP Loan Data — Polonia Driving School Corp, Brooklyn, NY
Polonia Driving School Corp is a corporation located at 148 Nassau Ave in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $5,400.00 in May, 2020.
The company has reported itself as a female owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Newtek Small Business Finance, Inc.
Polonia Driving School Corp in Brooklyn, NY received a Paycheck Protection Loan of $5,400 through Newtek Small Business Finance, Inc., which was approved in May, 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 March, 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, Polonia Driving School Corp's 2019 payroll expenses are estimated to be at least $25,920.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $5,184 per employee1
Reported PPP Proceed Usage:
On the PPP application, Polonia Driving School Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $5,400
Business Information - Polonia Driving School Corp in Brooklyn, NY
148 Nassau Ave
Brooklyn, NY 11222
Automobile Driving Schools
NAICS code 611692
Business Owner Demographics
Ethnicity: Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Brooklyn
In the Brooklyn area, 5 businesses in the "Automobile Driving Schools" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 5) and received an average PPP loan of $5,371 (compared to this company's $5,400).
Similar Nearby Businesses Who Received PPP Funding:
Mirza Driving Academy
Industry PPP Comparison Statistics
Nationwide, 3,039 businesses in the "Automobile Driving Schools" industry received a total of $104.17M 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 7 employees, 40% higher than Polonia Driving School Corp's reported 5 employees, and received an average PPP loan of $34,277, 535% higher than this company's loan of $5,400.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!