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PPP Loan Data — Program Development Services Inc., Brooklyn, NY

SBA PPP loan data, payroll data, and salaries for Program Development Services Inc.
NY Nonprofit Organization

Program Development Services Inc.

Entity: Non-profit Organization

Industry: Other Grantmaking and Giving Services

Location: Brooklyn, NY

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Program Development Services Inc. is a non-profit organization located at 6908 New Utrecht Ave in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $2,804,000.00 in April, 2020.

The company has reported itself as a Hispanic female owned non-profit, and employed at least 375 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$2.8M

Jobs Retained:

375

Loan Approved:

2020-04-28

Lender:

NEWTEK SMALL BUSINESS FINANCE, INC.

Program Development Services Inc. in Brooklyn, NY received a Paycheck Protection Loan of $2.8M through NEWTEK SMALL BUSINESS FINANCE, INC., which was approved in April, 2020.

Based on standard PPP eligibility rules, Program Development Services Inc.'s total 2019 payroll expenses were approximately $13.46M in order to qualify for the PPP loan amount received.

Based on their reported 375 jobs retained, this equals an estimated average yearly compensation of $35,891 per employee1.

Because the loan received by Program Development Services 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 - Program Development Services Inc. in Brooklyn, NY

Program Development Services Inc.
6908 New Utrecht Ave
Brooklyn, NY 11228

Business Industry

Other Grantmaking and Giving Services (NAICS code 813219)

Business Owner Demographics

Race / Ethnicity: HISPANIC

Gender: FEMALE OWNED

Veteran Status: NON-VETERAN

Congressional District: NY-10

Similar Companies near Brooklyn

In the Brooklyn area, 3 businesses in the "Other Grantmaking and Giving Services" industry received a PPP loan. These local businesses reported an average of 136 employees (compared to this company's 375) and received an average PPP loan of $1,002,647 (compared to this company's $2.8M).

Industry PPP Comparison Statistics

Nationwide, 6,269 businesses in the "Other Grantmaking and Giving Services" industry received a total of $998,645,047.00 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, 96% lower than Program Development Services Inc.'s reported 375 employees, and received an average PPP loan of $159,299, 94% lower than this company's loan of $2.8M.

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, and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. 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/program-development-services-inc-brooklyn-ny