PPP Loan Data — Yours Sincerely LLC, Brooklyn, NY
Yours Sincerely LLC is a limited liability company (LLC) located at 41 Wilson Ave in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $45,944.00 in January, 2021.
The company has reported itself as a male veteran owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Grow America Fund, Incorporated
Yours Sincerely LLC in Brooklyn, NY received a Paycheck Protection Loan of $45,944 through Grow America Fund, Incorporated, which was approved in January, 2021.
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, Yours Sincerely LLC's 2019 payroll expenses are estimated to be at least $220,531.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $44,106 per employee1
Reported PPP Proceed Usage:
On the PPP application, Yours Sincerely LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,940
- Utilities: $1
Business Information - Yours Sincerely LLC in Brooklyn, NY
41 Wilson Ave
Brooklyn, NY 11237
Drinking Places (Alcoholic Beverages)
NAICS code 722410
Business Owner Demographics
Ethnicity: Hispanic or Latino
Gender: Male Owned
Veteran Status: Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Brooklyn
In the Brooklyn area, 81 businesses in the "Drinking Places (Alcoholic Beverages)" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 5) and received an average PPP loan of $63,110 (compared to this company's $45,944).
Similar Nearby Businesses Who Received PPP Funding:
M&B 1438 Corp
Hanson Dry Inc
The Glorious Deep LLC
3 Country LLC
Alberts Social Butterfly Inc
G & K Beer Distributors, Inc
Industry PPP Comparison Statistics
Nationwide, 46,930 businesses in the "Drinking Places (Alcoholic Beverages)" industry received a total of $2.81B 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 12 employees, 140% higher than Yours Sincerely LLC's reported 5 employees, and received an average PPP loan of $59,863, 30% higher than this company's loan of $45,944.
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Footnotes & Information
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