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

PPP Loan Data — South Bronx Overall Economic Development Corporation, Bronx, NY

ALERT: There are 2 PPP loans for a total of $3.11M in our database for businesses with the name "South Bronx Overall Economic Development Corporation" in Bronx, 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 South Bronx Overall Economic Development Corporation
NY

South Bronx Overall Economic Development Corporation

Entity: Corporation

Industry: Civic and Social Organizations

Location: Bronx, NY

Search All PPP Data

South Bronx Overall Economic Development Corporation is a corporation located at 555 Bergen Ave # 3 in Bronx, New York that received a Coronavirus-related PPP loan from the SBA of $1,363,840.00 in January, 2021.

$ PPP Loan Information
Loan #8980018310

Loan Size:

$1.36M

Jobs Retained:

200

Loan Approved:

2021-01-30

Loan Status:

Ongoing Loan

Lender:

JPMorgan Chase Bank, National Association

South Bronx Overall Economic Development Corporation in Bronx, NY received a Paycheck Protection Loan of $1.36M through JPMorgan Chase Bank, National Association, which was approved in January, 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.

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, South Bronx Overall Economic Development Corporation's 2019 payroll expenses are estimated to be at least $6.55M.

Based on their reported 200 jobs retained, this equals an estimated average yearly compensation of $32,732 per employee1

Reported PPP Proceed Usage:

On the PPP application, South Bronx Overall Economic Development Corporation reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,363,837
  • Utilities: $1

Business Information - South Bronx Overall Economic Development Corporation in Bronx, NY

South Bronx Overall Economic Development Corporation
555 Bergen Ave # 3
Bronx, NY 10455

Business Industry:
Civic and Social Organizations
NAICS code 813410

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: Y

HUBZone: Y

Rural / Urban: Urban

Bronx County, NY — SBA Office 0202 — Congressional District: NY-15

Similar Companies near Bronx

In the Bronx area, 2 businesses in the "Civic and Social Organizations" industry received a PPP loan. These local businesses reported an average of 141 employees (compared to this company's 200) and received an average PPP loan of $1,219,831 (compared to this company's $1.36M).

Similar Nearby Businesses Who Received PPP Funding:

Storefront Academy Charter School
Bronx, NY

$1.08M PPP Loan

Industry PPP Comparison Statistics

Nationwide, 18,550 businesses in the "Civic and Social Organizations" industry received a total of $2.6B 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 20 employees, 90% lower than South Bronx Overall Economic Development Corporation's reported 200 employees, and received an average PPP loan of $140,085, 90% lower than this company's loan of $1.36M.

SBA PPP loan data, payroll data, and salaries for South Bronx Overall Economic Development Corporation
NY

South Bronx Overall Economic Development Corporation

Entity: Corporation

Industry: Other Social Advocacy Organizations

Location: Bronx, NY

Search All PPP Data

South Bronx Overall Economic Development Corporation is a corporation located at 555 Bergen Ave 3rd Fl in Bronx, New York that received a Coronavirus-related PPP loan from the SBA of $1,745,047.00 in May, 2020.

$ PPP Loan Information
Loan #2246037710

Loan Size:

$1.75M

Jobs Retained:

248

Loan Approved:

2020-05-01

Loan Status:

Ongoing Loan

Lender:

JPMorgan Chase Bank, National Association

South Bronx Overall Economic Development Corporation in Bronx, NY received a Paycheck Protection Loan of $1.75M through JPMorgan Chase Bank, National Association, which was approved in May, 2020.

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.

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, South Bronx Overall Economic Development Corporation's 2019 payroll expenses are estimated to be at least $8.38M.

Based on their reported 248 jobs retained, this equals an estimated average yearly compensation of $33,775 per employee1

Reported PPP Proceed Usage:

On the PPP application, South Bronx Overall Economic Development Corporation reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,008,786
  • Utilities: $100,000
  • Mortgage Interest: $58,261
  • Rent: $78,000
  • Health Care: $500,000

Business Information - South Bronx Overall Economic Development Corporation in Bronx, NY

South Bronx Overall Economic Development Corporation
555 Bergen Ave 3rd Fl
Bronx, NY 10455

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: Y

HUBZone: Y

Rural / Urban: Urban

Bronx County, NY — SBA Office 0202 — Congressional District: NY-15

Similar Companies near Bronx

In the Bronx area, 3 businesses in the "Other Social Advocacy Organizations" industry received a PPP loan. These local businesses reported an average of 103 employees (compared to this company's 248) and received an average PPP loan of $759,919 (compared to this company's $1.75M).

Industry PPP Comparison Statistics

Nationwide, 9,921 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, 94% lower than South Bronx Overall Economic Development Corporation's reported 248 employees, and received an average PPP loan of $144,360, 92% lower than this company's loan of $1.75M.

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.


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Source: www.federalpay.org/paycheck-protection-program/south-bronx-overall-economic-development-corporation-bronx-ny