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PPP Loan Data — The Manhattan Club Timeshare Association Inc,
New York, NY
The Manhattan Club Timeshare Association Inc
Entity: Non-profit Organization
Industry: Other Activities Related to Real Estate
Location: New York, NY
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The Manhattan Club Timeshare Association Inc is a non-profit organization located at 200 W 56th St in New York, New York that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.
$
PPP Loan Information
Loan #9519788303
Loan Size:
Jobs Retained:
93Loan Approved:
2021-01-30Loan Status:
Paid in Full or ForgivenLender:
Zions Bank, A Division ofThe Manhattan Club Timeshare Association Inc in New York, NY received a Paycheck Protection Loan of $2M through Zions Bank, A Division of, which was approved in January, 2021.
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, 2022.
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 93 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 96. 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 MoreUnderstanding 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 MoreBased 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 Manhattan Club Timeshare Association Inc's 2019 payroll expenses are estimated to be at least $9.6M (not accounting for salary amounts > $100k).
Because the 93 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, The Manhattan Club Timeshare Association Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,995
- Utilities: $1
Business Information - The Manhattan Club Timeshare Association Inc in New York, NY
200 W 56th St
New York, NY 10019
Business Industry:
Other Activities Related to Real Estate
NAICS code 531390
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
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as The Manhattan Club Timeshare Association Inc.
COL Associates LLC
Local Messengers and Local Delivery
Similar Companies near New York
In the New York area, 144 businesses in the "Other Activities Related to Real Estate" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 93) and received an average PPP loan of $125,402 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Daniel Cuervo
New York, NY
Shiv Babani
New York, NY
The Nightingale Group LLC
New York, NY
Bonjour Capital LLC
New York, NY
Stonemar Management LLC
New York, NY
Victorian Management Corp
New York, NY
Caldera Real Estate Ventures USA LLC
New York, NY
Cannon Will Project Development LLC
New York, NY
Two Bins Capital LLC
New York, NY
Industry PPP Comparison Statistics
Nationwide, 77,350 businesses in the "Other Activities Related to Real Estate" industry received a total of $3.64B 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 4 employees, 96% lower than The Manhattan Club Timeshare Association Inc's reported 93 employees, and received an average PPP loan of $47,091, 98% lower than this company's loan of $2M.
The Manhattan Club Timeshare Association, Inc
Entity: Non-profit Organization
Industry: Fitness and Recreational Sports Centers
Location: New York, NY
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The Manhattan Club Timeshare Association, Inc is a non-profit organization located at 200 West 56th Street in New York, New York that received a Coronavirus-related PPP loan from the SBA of $4,100,000.00 in May, 2020.
$
PPP Loan Information
Loan #8009147701
Loan Size:
Jobs Retained:
90Loan Approved:
2020-05-01Loan Status:
Paid in Full or ForgivenLender:
Zions Bank, A Division ofThe Manhattan Club Timeshare Association, Inc in New York, NY received a Paycheck Protection Loan of $4.1M through Zions Bank, A Division of, 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 90 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 197. 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 MoreUnderstanding 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 MoreBased 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 Manhattan Club Timeshare Association, Inc's 2019 payroll expenses are estimated to be at least $19.68M (not accounting for salary amounts > $100k).
Because the 90 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, The Manhattan Club Timeshare Association, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,100,000
Business Information - The Manhattan Club Timeshare Association, Inc in New York, NY
200 West 56th Street
New York, NY 10019
Business Industry:
Fitness and Recreational Sports Centers
NAICS code 713940
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
Similar Companies near New York
In the New York area, 38 businesses in the "Fitness and Recreational Sports Centers" industry received a PPP loan. These local businesses reported an average of 15 employees (compared to this company's 90) and received an average PPP loan of $196,731 (compared to this company's $4.1M).
Similar Nearby Businesses Who Received PPP Funding:
Impulse Florida Body Fitness LLC
Sunny Isles Beach, NY
Equinox 8 Inc
New York, NY
EDB Method LLC
New York, NY
Stretchme Inc
New York, NY
Mark Fisher Fitness
New York, NY
Beyond Pilates/Integrated Fitness Center, Inc
New York, NY
BIA Fit LLC
New York, NY
Mark Fisher Fitness, Inc
New York, NY
Sebastian White
New York, NY
Industry PPP Comparison Statistics
Nationwide, 61,273 businesses in the "Fitness and Recreational Sports Centers" industry received a total of $2.95B 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 12 employees, 87% lower than The Manhattan Club Timeshare Association, Inc's reported 90 employees, and received an average PPP loan of $48,176, 99% lower than this company's loan of $4.1M.
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.
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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