PPP Loan Data — Unified Concept,LLC, Brooklyn, NY
Unified Concept,LLC is a limited liability company (LLC) located at 606a 5th Avenue in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Unified Concept,LLC in Brooklyn, NY received a Paycheck Protection Loan of $25,000 through JPMorgan Chase Bank, National Association, which was approved in May, 2020.
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, Unified Concept,LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Unified Concept,LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $18,000
- Utilities: $1,000
- Rent: $6,000
Business Information - Unified Concept,LLC in Brooklyn, NY
606a 5th Avenue
Brooklyn, NY 11215
All Other Specialty Food Stores
NAICS code 445299
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Brooklyn
In the Brooklyn area, 17 businesses in the "All Other Specialty Food Stores" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 5) and received an average PPP loan of $50,195 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Fancy Cheese Inc
Solis Perez LLC
536 3Rd Ave. Deli, Inc
Pilar Cuban Restaurant Inc
JAC. Cangemi Corp
Southside Coffee LLC
Stamina Grill & Juice Bar Inc
Muse Cafe Corp
Industry PPP Comparison Statistics
Nationwide, 13,977 businesses in the "All Other Specialty Food Stores" industry received a total of $690.79M 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 11 employees, 120% higher than Unified Concept,LLC's reported 5 employees, and received an average PPP loan of $49,423, 98% higher than this company's loan of $25,000.
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Footnotes & Information
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