PPP Loan Data — Upstate Management Services LLC, Amherst, NY
Upstate Management Services LLC is a limited liability company (LLC) located at 210 John Glen Drive Suite 10 in Amherst, New York that received a Coronavirus-related PPP loan from the SBA of $93,616.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least twelve people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Cambridge Trust Company
Upstate Management Services LLC in Amherst, NY received a Paycheck Protection Loan of $93,616 through Cambridge Trust Company, which was approved in April, 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 February, 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, Upstate Management Services LLC's 2019 payroll expenses are estimated to be at least $449,357.
Based on their reported 12 jobs retained, this equals an estimated average yearly compensation of $37,446 per employee1
Reported PPP Proceed Usage:
On the PPP application, Upstate Management Services LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $53,416
- Mortgage Interest: $40,200
Business Information - Upstate Management Services LLC in Amherst, NY
210 John Glen Drive Suite 10
Amherst, NY 14228
NAICS code 561440
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Amherst
In the Amherst area, 17 businesses in the "Collection Agencies" industry received a PPP loan. These local businesses reported an average of 35 employees (compared to this company's 12) and received an average PPP loan of $247,076 (compared to this company's $93,616).
Similar Nearby Businesses Who Received PPP Funding:
RCS Capital Partners Inc
American Coradius International LLC
AA Recovery Solutions Inc
AA Recovery Solutions, LLC
RCS Capital Partners
Industry PPP Comparison Statistics
Nationwide, 2,910 businesses in the "Collection Agencies" industry received a total of $542.19M 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 19 employees, 58% higher than Upstate Management Services LLC's reported 12 employees, and received an average PPP loan of $186,320, 99% higher than this company's loan of $93,616.
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.
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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