PPP Loan Data — AJ Tutoring Inc, Menlo Park, CA
AJ Tutoring Inc is a corporation located at 1155 Crane St Ste 1 in Menlo Park, California that received a Coronavirus-related PPP loan from the SBA of $2,546,630.00 in May, 2020.
$ PPP Loan Information
Lender:BANK OF AMERICA, NATIONAL ASSOCIATION
AJ Tutoring Inc in Menlo Park, CA received a Paycheck Protection Loan of $2.55M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in May, 2020.
Based on standard PPP eligibility rules, AJ Tutoring Inc's total 2019 payroll expenses were approximately $12.22M in order to qualify for the PPP loan amount received.
Based on their reported 332 jobs retained, this equals an estimated average yearly compensation of $36,819 per employee1.
Business Information - AJ Tutoring Inc in Menlo Park, CA
1155 Crane St Ste 1
Menlo Park, CA 94025
Exam Preparation and Tutoring (NAICS code 611691)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: CA-18
Similar Companies near Menlo Park
In the Menlo Park area, 4 businesses in the "Exam Preparation and Tutoring" industry received a PPP loan. These local businesses reported an average of 84 employees (compared to this company's 332) and received an average PPP loan of $645,015 (compared to this company's $2.55M).
Similar Nearby Businesses Who Received PPP Funding:
Menlo Park, CA
Menlo Park, CA
Los Altos, CA
Industry PPP Comparison Statistics
Nationwide, 3,705 businesses in the "Exam Preparation and Tutoring" industry received a total of $192,071,549.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 9 employees, 97% lower than AJ Tutoring Inc's reported 332 employees, and received an average PPP loan of $51,841, 98% lower than this company's loan of $2.55M.
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, 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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