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PPP Loan Data — Their Future Prep LLC, Brooklyn, NY

SBA PPP loan data, payroll data, and salaries for Their Future Prep LLC
NY

Their Future Prep LLC

Entity: Limited Liability Company (LLC)

Industry: Elementary and Secondary Schools

Location: Brooklyn, NY

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Their Future Prep LLC is a limited liability company (LLC) located in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $6,085.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least one person during the applicable loan loan period.

$ PPP Loan Information
Loan #7663127107

Loan Size:

$6,085

Jobs Retained:

1

Loan Approved:

2020-04-14

Loan Status:

Ongoing Loan

Lender:

WebBank

Their Future Prep LLC in Brooklyn, NY received a Paycheck Protection Loan of $6,085 through WebBank, which was approved in April, 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.


PPP Calculation Note: The total PPP loan an eligible business or individual can receive is based on 2.5 times their average monthly 2019 payroll expenses, capped at $100,000 annually per employee.

Reported PPP Proceed Usage:

On the PPP application, Their Future Prep LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $6,085

Business Information - Their Future Prep LLC in Brooklyn, NY

Their Future Prep LLC
Brooklyn, NY
* Full address is redacted to protect the privacy of individuals.

Business Industry:
Elementary and Secondary Schools
NAICS code 611110

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Unreported

Business Demographics

Business Age: New Business or 2 years or less

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Kings County, NY — SBA Office 0202 — Congressional District: NY-11

Similar Companies near Brooklyn

In the Brooklyn area, 34 businesses in the "Elementary and Secondary Schools" industry received a PPP loan. These local businesses reported an average of 50 employees (compared to this company's 1) and received an average PPP loan of $380,564 (compared to this company's $6,085).

Industry PPP Comparison Statistics

Nationwide, 21,362 businesses in the "Elementary and Secondary Schools" industry received a total of $7.15B 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 39 employees, 3800% higher than Their Future Prep LLC's reported 1 employees, and received an average PPP loan of $334,870, 5403% higher than this company's loan of $6,085.

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.

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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/their-future-prep-llc-brooklyn-ny