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PPP Loan Data — United Black Fund Of Greater Cleveland, Inc, Cleveland, OH

SBA PPP loan data, payroll data, and salaries for United Black Fund Of Greater Cleveland, Inc
OH Nonprofit Organization

United Black Fund Of Greater Cleveland, Inc

Entity: 501(c)3 – Non Profit

Industry: Other Social Advocacy Organizations

Location: Cleveland, OH

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United Black Fund Of Greater Cleveland, Inc is a 501(c)3 – non profit located at 1621 Euclid Avenue in Cleveland, Ohio that received a Coronavirus-related PPP loan from the SBA of $61,100.00 in May, 2020.

$ PPP Loan Information
Loan #1136867804

Loan Size:

$61,100

Jobs Retained:

5

Loan Approved:

2020-05-01

Loan Status:

Paid in Full or Forgiven

Lender:

Fifth Third Bank

United Black Fund Of Greater Cleveland, Inc in Cleveland, OH received a Paycheck Protection Loan of $61,100 through Fifth Third Bank, 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 November, 2021.

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, United Black Fund Of Greater Cleveland, Inc's 2019 payroll expenses are estimated to be at least $293,280.

Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $58,656 per employee1

Reported PPP Proceed Usage:

On the PPP application, United Black Fund Of Greater Cleveland, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $61,100

Business Information - United Black Fund Of Greater Cleveland, Inc in Cleveland, OH

United Black Fund Of Greater Cleveland, Inc
1621 Euclid Avenue
Cleveland, OH 44115

Business Industry:
Other Social Advocacy Organizations
NAICS code 813319

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: Y

HUBZone: Y

Rural / Urban: Urban

Cuyahoga County, OH — SBA Office 0549 — Congressional District: OH-11

Similar Companies near Cleveland

In the Cleveland area, 10 businesses in the "Other Social Advocacy Organizations" industry received a PPP loan. These local businesses reported an average of 58 employees (compared to this company's 5) and received an average PPP loan of $704,168 (compared to this company's $61,100).

Industry PPP Comparison Statistics

Nationwide, 9,845 businesses in the "Other Social Advocacy Organizations" industry received a total of $1.43B 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 16 employees, 220% higher than United Black Fund Of Greater Cleveland, Inc's reported 5 employees, and received an average PPP loan of $145,329, 138% higher than this company's loan of $61,100.

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/united-black-fund-of-greater-cleveland-inc-cleveland-oh