WHYY, INC.
PPP Loan approved Apr 15, 2020 through Manufacturers and Traders Trust Company
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $3,068,334.00 | 84.3% |
| Utilities | $85,973.00 | 2.4% |
| Rent / Lease | $49,392.00 | 1.4% |
| Health Care | $435,312.00 | 12.0% |
About This Loan
WHYY, INC. received a PPP loan of $3,656,072 approved on Apr 15, 2020. The loan was originated by Manufacturers and Traders Trust Company.
WHYY, INC. is a non-profit organization located in PHILADELPHIA, Pennsylvania. 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 515120), part of the Information sector of the economy. The applicant reported 258 jobs as retained through this loan.
The SBA forgave $3,442,487.27 of this loan — 94.2% of the total approved amount, with forgiveness recorded on Jan 24, 2022. 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: $3,068,334 to payroll, $85,973 to utilities, $49,392 to rent or lease obligations, $435,312 to health care costs. The payroll component represents 84.3% 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 Pennsylvania, visit the Pennsylvania page. To compare this loan with others in the same industry, see the Radio and Television Broadcasting industry page.