PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Restless Development USA Inc, New York, NY

ALERT: There are 2 PPP loans for a total of $137,575 in our database for businesses with the name "Restless Development USA Inc" in New York, NY. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Restless Development USA Inc
NY Nonprofit Organization

Restless Development USA Inc

Entity: Non-profit Organization

Industry: Other Grantmaking and Giving Services

Location: New York, NY

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Restless Development USA Inc is a non-profit organization located at 59 W 19th St Ste 410 in New York, New York that received a Coronavirus-related PPP loan from the SBA of $68,157.00 in March, 2021.

$ PPP Loan Information
Loan #1110868606

Loan Size:

$68,157

Jobs Retained:

3

Loan Approved:

2021-03-12

Loan Status:

Ongoing Loan

Lender:

Wells Fargo Bank, National Association
Likely Employment Reduction3

Restless Development USA Inc in New York, NY received a Paycheck Protection Loan of $68,157 through Wells Fargo Bank, National Association, which was approved in March, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA. The loan's status was last updated by the SBA in November, -0001.

The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 3 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.

The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 3. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Restless Development USA Inc's 2019 payroll expenses are estimated to be at least $327,154 (not accounting for salary amounts > $100k).

Because the 3 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.

Reported PPP Proceed Usage:

On the PPP application, Restless Development USA Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $68,155
  • Utilities: $1

Business Information - Restless Development USA Inc in New York, NY

Restless Development USA Inc
59 W 19th St Ste 410
New York, NY 10011

Business Industry:
Other Grantmaking and Giving Services
NAICS code 813219

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

New York County, NY — SBA Office 0202 — Congressional District: NY-12

Similar Companies near New York

In the New York area, 16 businesses in the "Other Grantmaking and Giving Services" industry received a PPP loan. These local businesses reported an average of 50 employees (compared to this company's 3) and received an average PPP loan of $572,861 (compared to this company's $68,157).

Industry PPP Comparison Statistics

Nationwide, 9,749 businesses in the "Other Grantmaking and Giving Services" industry received a total of $1.31B 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 15 employees, 400% higher than Restless Development USA Inc's reported 3 employees, and received an average PPP loan of $134,264, 97% higher than this company's loan of $68,157.

SBA PPP loan data, payroll data, and salaries for Restless Development USA Inc
NY Nonprofit Organization

Restless Development USA Inc

Entity: Non-profit Organization

Industry: Other Social Advocacy Organizations

Location: New York, NY

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Restless Development USA Inc is a non-profit organization located at 636 6th Ave Ste 410 in New York, New York that received a Coronavirus-related PPP loan from the SBA of $69,418.00 in May, 2020.

$ PPP Loan Information
Loan #9660197306

Loan Size:

$69,418

Jobs Retained:

3

Loan Approved:

2020-05-02

Loan Status:

Paid in Full or Forgiven

Lender:

Wells Fargo Bank, National Association
Likely Employment Reduction3

Restless Development USA Inc in New York, NY received a Paycheck Protection Loan of $69,418 through Wells Fargo Bank, National Association, 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 September, 2021.

The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 3 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.

The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 3. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Restless Development USA Inc's 2019 payroll expenses are estimated to be at least $333,206 (not accounting for salary amounts > $100k).

Because the 3 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.

Reported PPP Proceed Usage:

On the PPP application, Restless Development USA Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $69,418

Business Information - Restless Development USA Inc in New York, NY

Restless Development USA Inc
636 6th Ave Ste 410
New York, NY 10011

Business Industry:
Other Social Advocacy Organizations
NAICS code 813319

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

New York County, NY — SBA Office 0202 — Congressional District: NY-10

Similar Companies near New York

In the New York area, 27 businesses in the "Other Social Advocacy Organizations" industry received a PPP loan. These local businesses reported an average of 18 employees (compared to this company's 3) and received an average PPP loan of $320,294 (compared to this company's $69,418).

Industry PPP Comparison Statistics

Nationwide, 9,845 businesses in the "Other Social Advocacy Organizations" industry received a total of $1.43B 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 16 employees, 433% higher than Restless Development USA Inc's reported 3 employees, and received an average PPP loan of $145,329, 109% higher than this company's loan of $69,418.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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.

3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.


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Source: www.federalpay.org/paycheck-protection-program/restless-development-usa-inc-new-york-ny