PPP Loan Data — The Young Men's Christian Association Of Greater Toledo, Toledo, OH
The Young Men's Christian Association Of Greater Toledo is a non-profit organization located at 1500 N. Superior St., 2nd Floor in Toledo, Ohio that received a Coronavirus-related PPP loan from the SBA of $2,305,900.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:KeyBank National Association
The Young Men's Christian Association Of Greater Toledo in Toledo, OH received a Paycheck Protection Loan of $2.31M through KeyBank National Association, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 111. 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
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 Young Men's Christian Association Of Greater Toledo's 2019 payroll expenses are estimated to be at least $11.07M (not accounting for salary amounts > $100k).
Because the 107 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 Young Men's Christian Association Of Greater Toledo reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,305,900
Business Information - The Young Men's Christian Association Of Greater Toledo in Toledo, OH
1500 N. Superior St., 2nd Floor
Toledo, OH 43604
Civic and Social Organizations
NAICS code 813410
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Toledo
In the Toledo area, 9 businesses in the "Civic and Social Organizations" industry received a PPP loan. These local businesses reported an average of 28 employees (compared to this company's 107) and received an average PPP loan of $475,547 (compared to this company's $2.31M).
Similar Nearby Businesses Who Received PPP Funding:
The Young Women's Christian Association Of Northwest Ohio
Destination Toledo Inc
Toledo Opera Association
Legal Aid Of Western Ohio, Inc
Toledo Streets Workforce Development Corp
The Arts Commission Of Greater Toledo
Second Harvest Community Services Of Northwestern Ohio, Inc
Food For Thought Toledo Inc
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, 81% lower than The Young Men's Christian Association Of Greater Toledo's reported 107 employees, and received an average PPP loan of $140,085, 94% lower than this company's loan of $2.31M.
FederalPay's PPP Information Policy
Footnotes & Information
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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