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

PPP Loan Data — The Madison Fire Island Pines LLC, New York, NY

ALERT: There are 2 PPP loans for a total of $22,871 in our database for businesses with the name "The Madison Fire Island Pines LLC" 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 The Madison Fire Island Pines LLC
NY

The Madison Fire Island Pines LLC

Entity: Limited Liability Company (LLC)

Industry: Rooming and Boarding Houses, Dormitories, and Workers' Camps

Location: New York, NY

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The Madison Fire Island Pines LLC is a limited liability company (LLC) located at 19 Bond St in New York, New York that received a Coronavirus-related PPP loan from the SBA of $16,000.00 in February, 2021.

$ PPP Loan Information
Loan #7790108405

Loan Size:

$16,000

Jobs Retained:

3

Loan Approved:

2021-02-12

Loan Status:

Ongoing Loan

Lender:

Newtek Small Business Finance, Inc.

The Madison Fire Island Pines LLC in New York, NY received a Paycheck Protection Loan of $16,000 through Newtek Small Business Finance, Inc., which was approved in February, 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, The Madison Fire Island Pines LLC's 2019 payroll expenses are estimated to be at least $76,800.

Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $25,600 per employee1

Reported PPP Proceed Usage:

On the PPP application, The Madison Fire Island Pines LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $16,000

Business Information - The Madison Fire Island Pines LLC in New York, NY

The Madison Fire Island Pines LLC
19 Bond St
New York, NY 10012

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, 3 businesses in the "Rooming and Boarding Houses, Dormitories, and Workers' Camps" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 3) and received an average PPP loan of $8,789 (compared to this company's $16,000).

Similar Nearby Businesses Who Received PPP Funding:

Gregory Silverstein
New York, NY

$4,320 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 2,345 businesses in the "Rooming and Boarding Houses, Dormitories, and Workers' Camps" industry received a total of $116.26M 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 6 employees, 100% higher than The Madison Fire Island Pines LLC's reported 3 employees, and received an average PPP loan of $49,580, 210% higher than this company's loan of $16,000.

SBA PPP loan data, payroll data, and salaries for The Madison Fire Island Pines LLC
NY

The Madison Fire Island Pines LLC

Entity: Limited Liability Company (LLC)

Industry: Hotels (except Casino Hotels) and Motels

Location: New York, NY

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The Madison Fire Island Pines LLC is a limited liability company (LLC) located at 19 Bond Street 2c in New York, New York that received a Coronavirus-related PPP loan from the SBA of $6,871.00 in May, 2020.

$ PPP Loan Information
Loan #3172397801

Loan Size:

$6,871

Jobs Retained:

3

Loan Approved:

2020-05-25

Loan Status:

Ongoing Loan

Lender:

Kabbage, Inc.

The Madison Fire Island Pines LLC in New York, NY received a Paycheck Protection Loan of $6,871 through Kabbage, Inc., 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, The Madison Fire Island Pines LLC's 2019 payroll expenses are estimated to be at least $32,981.

Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $10,994 per employee1

Reported PPP Proceed Usage:

On the PPP application, The Madison Fire Island Pines LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $6,871

Business Information - The Madison Fire Island Pines LLC in New York, NY

The Madison Fire Island Pines LLC
19 Bond Street 2c
New York, NY 10012

Business Industry:
Hotels (except Casino Hotels) and Motels
NAICS code 721110

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, 66 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 48 employees (compared to this company's 3) and received an average PPP loan of $708,216 (compared to this company's $6,871).

Industry PPP Comparison Statistics

Nationwide, 82,605 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $13.95B 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 23 employees, 667% higher than The Madison Fire Island Pines LLC's reported 3 employees, and received an average PPP loan of $168,829, 2357% higher than this company's loan of $6,871.

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/the-madison-fire-island-pines-llc-new-york-ny