PPP Loan Data — The Greater Ridgewood Youth Council, Inc, Ridgewood, NY
The Greater Ridgewood Youth Council, Inc
Entity: Non-profit Organization
Location: Ridgewood, NYTweet This • Search All PPP Data
The Greater Ridgewood Youth Council, Inc is a non-profit organization located at 5903 Summerfield St in Ridgewood, New York that received a Coronavirus-related PPP loan from the SBA of $1,607,630.00 in June, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Ridgewood Savings Bank
The Greater Ridgewood Youth Council, Inc in Ridgewood, NY received a Paycheck Protection Loan of $1.61M through Ridgewood Savings Bank, which was approved in June, 2020.
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, The Greater Ridgewood Youth Council, Inc's 2019 payroll expenses are estimated to be at least $7.72M.
Based on their reported 414 jobs retained, this equals an estimated average yearly compensation of $18,639 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Greater Ridgewood Youth Council, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,607,630
Business Information - The Greater Ridgewood Youth Council, Inc in Ridgewood, NY
5903 Summerfield St
Ridgewood, NY 11385
Recreational and Vacation Camps (except Campgrounds)
NAICS code 721214
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 3,732 businesses in the "Recreational and Vacation Camps (except Campgrounds)" industry received a total of $563.63M 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 26 employees, 94% lower than The Greater Ridgewood Youth Council, Inc's reported 414 employees, and received an average PPP loan of $151,027, 91% lower than this company's loan of $1.61M.
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Footnotes & Information
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