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PPP Loan Data — Project Hospitality, Inc., Staten Island, NY

SBA PPP loan data, payroll data, and salaries for Project Hospitality, Inc.
NY Nonprofit Organization

Project Hospitality, Inc.

Entity: Non-profit Organization

Industry: Other Community Housing Services

Location: Staten Island, NY

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Project Hospitality, Inc. is a non-profit organization located at 100 Park Ave in Staten Island, New York that received a Coronavirus-related PPP loan from the SBA of $3,512,875.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.51M

Jobs Retained:

376

Loan Approved:

2020-04-27

Lender:

INVESTORS BANK

Project Hospitality, Inc. in Staten Island, NY received a Paycheck Protection Loan of $3.51M through INVESTORS BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Project Hospitality, Inc.'s total 2019 payroll expenses were approximately $16.86M in order to qualify for the PPP loan amount received.

Based on their reported 376 jobs retained, this equals an estimated average yearly compensation of $44,845 per employee1.

Because the loan received by Project Hospitality, 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 - Project Hospitality, Inc. in Staten Island, NY

Project Hospitality, Inc.
100 Park Ave
Staten Island, NY 10302

Business Industry

Other Community Housing Services (NAICS code 624229)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NY-11

Industry PPP Comparison Statistics

Nationwide, 1,771 businesses in the "Other Community Housing Services" industry received a total of $328,310,030.00 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 19 employees, 95% lower than Project Hospitality, Inc.'s reported 376 employees, and received an average PPP loan of $185,381, 95% lower than this company's loan of $3.51M.

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.

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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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Source: www.federalpay.org/paycheck-protection-program/project-hospitality-inc-staten-island-ny