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PPP Loan Data — Advocates For Arts Based Education Corp,
New Orleans, LA
Advocates For Arts Based Education Corp
Entity: Corporation
Industry: Elementary and Secondary Schools
Location: New Orleans, LA
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Advocates For Arts Based Education Corp is a corporation located at 5624 Freret St in New Orleans, Louisiana that received a Coronavirus-related PPP loan from the SBA of $3,214,000.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
335Loan Approved:
2020-04-13Lender:
HANCOCK WHITNEY BANKAdvocates For Arts Based Education Corp received a Paycheck Protection Loan of $3.21M through HANCOCK WHITNEY BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Advocates For Arts Based Education Corp's total 2019 payroll expenses were approximately $15.43M in order to qualify for the PPP loan amount received.
Based on their reported 335 jobs retained, this equals an estimated average yearly compensation of $46,051 per employee1.
Business Information - Advocates For Arts Based Education Corp in New Orleans, LA
5624 Freret St
New Orleans, LA 70115
Business Industry
Elementary and Secondary Schools (NAICS code 611110)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: LA-01Similar Companies near New Orleans
In the New Orleans area, 20 businesses in the "Elementary and Secondary Schools" industry received a PPP loan. These local businesses reported an average of 91 employees (compared to this company's 335) and received an average PPP loan of $1,025,099 (compared to this company's $3.21M).
Similar Nearby Businesses Who Received PPP Funding:
St Georges Episcopal School
New Orleans, LA
Loveswimming Inc
New Orleans, LA
Calvary Baptist School
New Orleans, LA
The Little Schoolhouse Child Development Center
New Orleans, LA
Algiers Charter School Association
New Orleans, LA
Elan Academy, Inc.
New Orleans, LA
Cuddly Bear Child Development Center, LLC
New Orleans, LA
St. Stephen Catholic School
New Orleans, LA
Isidore Newman School
New Orleans, LA
Industry PPP Comparison Statistics
Nationwide, 15,362 businesses in the "Elementary and Secondary Schools" industry received a total of $5,824,752,723.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 38 employees, 89% lower than Advocates For Arts Based Education Corp's reported 335 employees, and received an average PPP loan of $379,166, 88% lower than this company's loan of $3.21M.
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.
Footnotes & Information
1. 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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