PPP Loan Data — Spacious Living Group, LLC, Floor 31, NY
Spacious Living Group, LLC
Entity: Limited Liability Company (LLC)
Location: Floor 31, NYTweet This • Search All PPP Data
Spacious Living Group, LLC is a limited liability company (LLC) located at 450 7th Avenue in Floor 31, New York that received a Coronavirus-related PPP loan from the SBA of $1,964,865.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 129 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Manufacturers and Traders Trust Company
Spacious Living Group, LLC in Floor 31, NY received a Paycheck Protection Loan of $1.96M through Manufacturers and Traders Trust Company, which was approved in April, 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 June, 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, Spacious Living Group, LLC's 2019 payroll expenses are estimated to be at least $9.43M.
Based on their reported 129 jobs retained, this equals an estimated average yearly compensation of $73,111 per employee1
Reported PPP Proceed Usage:
On the PPP application, Spacious Living Group, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,879,988
- Utilities: $2,000
- Rent: $53,977
- Health Care: $28,000
- Debt Interest: $900
Business Information - Spacious Living Group, LLC in Floor 31, NY
450 7th Avenue
Floor 31, NY 10123
Commercial and Institutional Building Construction
NAICS code 236220
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Floor 31
In the Floor 31 area, 2 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 160 employees (compared to this company's 129) and received an average PPP loan of $1,922,966 (compared to this company's $1.96M).
Similar Nearby Businesses Who Received PPP Funding:
Spacious Living Group LLC
New York, NY
Industry PPP Comparison Statistics
Nationwide, 78,873 businesses in the "Commercial and Institutional Building Construction" industry received a total of $12.41B 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 12 employees, 91% lower than Spacious Living Group, LLC's reported 129 employees, and received an average PPP loan of $157,325, 92% lower than this company's loan of $1.96M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!