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

PPP Loan Data — Tknyc LLC, New York, NY

ALERT: There are 2 PPP loans for a total of $3.57M in our database for businesses with the name "Tknyc 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 Tknyc LLC
NY

Tknyc LLC

Entity: Limited Liability Company (LLC)

Industry: Full-Service Restaurants

Location: New York, NY

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Tknyc LLC is a limited liability company (LLC) located at 60 Columbus Cir in New York, New York that received a Coronavirus-related PPP loan from the SBA of $1,458,333.00 in April, 2021.

$ PPP Loan Information
Loan #4568278808

Loan Size:

$1.46M

Jobs Retained:

50

Loan Approved:

2021-04-16

Loan Status:

Active Un-Disbursed

Lender:

Greater Nevada CU
Likely Employment Reduction3 PPP Funds Undisbursed

Tknyc LLC in New York, NY received a Paycheck Protection Loan of $1.46M through Greater Nevada CU, which was approved in April, 2021.

While this loan has been approved by the Small Business Administration, the lender has not reported to the SBA that the loan funds were disbursed to the borrower. According to SBA records, a total of $1.46M in approved PPP funding has not been disbursed. The loan's status was last updated by the SBA in April, 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 50 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 70. 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 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, Tknyc LLC's 2019 payroll expenses are estimated to be at least $7M (not accounting for salary amounts > $100k).

Because the 50 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, Tknyc LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,458,331
  • Utilities: $1

Business Information - Tknyc LLC in New York, NY

Tknyc LLC
60 Columbus Cir
New York, NY 10023

Business Industry:
Full-Service Restaurants
NAICS code 722511

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, 552 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 37 employees (compared to this company's 50) and received an average PPP loan of $345,444 (compared to this company's $1.46M).

Industry PPP Comparison Statistics

Nationwide, 328,914 businesses in the "Full-Service Restaurants" industry received a total of $42.6B in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 5% of the total PPP funding allocated.

PPP recipients in this industry report an average of 22 employees, 56% lower than Tknyc LLC's reported 50 employees, and received an average PPP loan of $129,504, 91% lower than this company's loan of $1.46M.

SBA PPP loan data, payroll data, and salaries for Tknyc LLC
NY

Tknyc LLC

Entity: Limited Liability Company (LLC)

Industry: Full-Service Restaurants

Location: New York, NY

Search All PPP Data

Tknyc LLC is a limited liability company (LLC) located at 60 Columbus Circle Floor 19 in New York, New York that received a Coronavirus-related PPP loan from the SBA of $2,111,738.00 in August, 2020.

$ PPP Loan Information
Loan #5581018200

Loan Size:

$2.11M

Jobs Retained:

125

Loan Approved:

2020-08-08

Loan Status:

Ongoing Loan

Lender:

Fountainhead SBF LLC

Tknyc LLC in New York, NY received a Paycheck Protection Loan of $2.11M through Fountainhead SBF LLC, which was approved in August, 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, Tknyc LLC's 2019 payroll expenses are estimated to be at least $10.14M.

Based on their reported 125 jobs retained, this equals an estimated average yearly compensation of $81,091 per employee1

Reported PPP Proceed Usage:

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

  • Payroll: $2,111,738
Because the loan received by Tknyc LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Tknyc LLC in New York, NY

Tknyc LLC
60 Columbus Circle Floor 19
New York, NY 10023

Business Industry:
Full-Service Restaurants
NAICS code 722511

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, 552 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 37 employees (compared to this company's 125) and received an average PPP loan of $345,444 (compared to this company's $2.11M).

Industry PPP Comparison Statistics

Nationwide, 328,914 businesses in the "Full-Service Restaurants" industry received a total of $42.6B in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 5% of the total PPP funding allocated.

PPP recipients in this industry report an average of 22 employees, 82% lower than Tknyc LLC's reported 125 employees, and received an average PPP loan of $129,504, 94% lower than this company's loan of $2.11M.

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/tknyc-llc-new-york-ny