NEW YORK PUBLIC RADIO
PPP Loan approved Apr 15, 2020 through SVB, A Division of First-Citizens Bank and Trust Company
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $8,919,400.00 | 100.0% |
About This Loan
NEW YORK PUBLIC RADIO received a PPP loan of $8,919,400 approved on Apr 15, 2020. The loan was originated by SVB, A Division of First-Citizens Bank and Trust Company.
NEW YORK PUBLIC RADIO is a non-profit organization located in NEW YORK, New York. At the time of the application, the business was described as "existing or more than 2 years old". This organization is classified as a non-profit.
The business operates in the Radio and Television Broadcasting industry (NAICS 515112), part of the Information sector of the economy. The applicant reported 467 jobs as retained through this loan.
The SBA forgave $9,019,590.52 of this loan — 101.1% of the total approved amount, with forgiveness recorded on Jun 9, 2021. This means the borrower was not required to repay this portion, having satisfied the PPP's eligibility criteria for forgiveness, including maintaining payroll levels and using the funds for qualified expenses.
According to the SBA's records, the proceeds of this loan were allocated as follows: $8,919,400 to payroll. The payroll component represents 100.0% of disclosed proceeds, consistent with the program's requirement that at least 60% of loan funds be used for payroll costs to qualify for full forgiveness.
This loan is one of millions approved nationwide during the COVID-19 pandemic. To explore other recipients in New York, visit the New York page. To compare this loan with others in the same industry, see the Radio and Television Broadcasting industry page.