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PPP Loan Data — Whittle Management Inc, New York, NY

ALERT: There are 2 PPP loans for a total of $4.56M in our database for businesses with the name "Whittle Management Inc" 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 Whittle Management Inc
NY

Whittle Management Inc

Entity: Corporation

Industry: Elementary and Secondary Schools

Location: New York, NY

Search All PPP Data

Whittle Management Inc is a corporation located at 7 Bryant Park Ste 2700 in New York, New York that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in May, 2021.

The company has reported itself as a White male owned business, and employed at least 79 people during the applicable loan loan period.

$ PPP Loan Information
Loan #8706318902

Loan Size:

$2M

Jobs Retained:

79

Loan Approved:

2021-05-12

Loan Status:

Ongoing Loan

Lender:

Wells Fargo Bank, National Association
Likely Employment Reduction3

Whittle Management Inc in New York, NY received a Paycheck Protection Loan of $2M through Wells Fargo Bank, National Association, which was approved in May, 2021.

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.

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 79 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 96. 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, Whittle Management Inc's 2019 payroll expenses are estimated to be at least $9.6M (not accounting for salary amounts > $100k).

Because the 79 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, Whittle Management Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,999,996
  • Utilities: $1
Because the loan received by Whittle Management Inc 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 - Whittle Management Inc in New York, NY

Whittle Management Inc
7 Bryant Park Ste 2700
New York, NY 10018

Business Industry:
Elementary and Secondary Schools
NAICS code 611110

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: Y

Rural / Urban: Urban

New York County, NY — SBA Office 0202 — Congressional District: NY-12

Similar Companies near New York

In the New York area, 16 businesses in the "Elementary and Secondary Schools" industry received a PPP loan. These local businesses reported an average of 46 employees (compared to this company's 79) and received an average PPP loan of $616,488 (compared to this company's $2M).

Industry PPP Comparison Statistics

Nationwide, 22,714 businesses in the "Elementary and Secondary Schools" industry received a total of $7.35B 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 38 employees, 52% lower than Whittle Management Inc's reported 79 employees, and received an average PPP loan of $323,643, 84% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for Whittle Management Inc
NY

Whittle Management Inc

Entity: Corporation

Industry:

Location: New York, NY

Search All PPP Data

Whittle Management Inc is a corporation located at 7 Bryant Park Suite 2700 in New York, New York that received a Coronavirus-related PPP loan from the SBA of $2,556,853.00 in May, 2020.

The company has reported itself as a White male owned business, and employed at least 156 people during the applicable loan loan period.

$ PPP Loan Information
Loan #4444647705

Loan Size:

$2.56M

Jobs Retained:

156

Loan Approved:

2020-05-01

Loan Status:

Ongoing Loan

Lender:

Wells Fargo Bank, National Association

Whittle Management Inc in New York, NY received a Paycheck Protection Loan of $2.56M through Wells Fargo Bank, National Association, which was approved in May, 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, Whittle Management Inc's 2019 payroll expenses are estimated to be at least $12.27M.

Based on their reported 156 jobs retained, this equals an estimated average yearly compensation of $78,672 per employee1

Reported PPP Proceed Usage:

On the PPP application, Whittle Management Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,556,853
Because the loan received by Whittle Management Inc 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 - Whittle Management Inc in New York, NY

Whittle Management Inc
7 Bryant Park Suite 2700
New York, NY 10018

Business Industry:

NAICS code

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

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

Industry PPP Comparison Statistics

Nationwide, 0 businesses in the "" industry received a total of $0 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 0 employees, 100% lower than Whittle Management Inc's reported 156 employees, and received an average PPP loan of $0, 100% lower than this company's loan of $2.56M.

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/whittle-management-inc-new-york-ny