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PPP Loan Data — Algiers Charter School Association, New Orleans, LA

SBA PPP loan data, payroll data, and salaries for Algiers Charter School Association
LA Nonprofit Organization

Algiers Charter School Association

Entity: Non-profit Organization

Industry: Elementary and Secondary Schools

Location: New Orleans, LA

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Algiers Charter School Association is a non-profit organization located at 2401 Westbend Pkwy Suite 2001 in New Orleans, Louisiana that received a Coronavirus-related PPP loan from the SBA of $3,326,400.00 in April, 2020.

The company has reported itself as a male owned non-profit, and employed at least 230 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$3.33M

Jobs Retained:

230

Loan Approved:

2020-04-28

Lender:

HANCOCK WHITNEY BANK

Algiers Charter School Association received a Paycheck Protection Loan of $3.33M through HANCOCK WHITNEY BANK, which was approved in April, 2020.

2019 Payroll Estimations based On PPP Amount:

Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 0.

Based on standard PPP eligibility rules, Algiers Charter School Association's total 2019 payroll expenses were approximately $15.97M in order to qualify for the PPP loan amount received.

Based on their reported 230 jobs retained, this equals an estimated average yearly compensation of $69,421 per employee1.

Because the loan received by Algiers Charter School Association is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Algiers Charter School Association in New Orleans, LA

Algiers Charter School Association
2401 Westbend Pkwy Suite 2001
New Orleans, LA 70114

Business Industry

Elementary and Secondary Schools (NAICS code 611110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: Unreported

Congressional District: LA-02

Similar Companies near New Orleans

In the New Orleans area, 21 businesses in the "Elementary and Secondary Schools" industry received a PPP loan. These local businesses reported an average of 108 employees (compared to this company's 230) and received an average PPP loan of $1,219,106 (compared to this company's $3.33M).

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, 83% lower than Algiers Charter School Association's reported 230 employees, and received an average PPP loan of $379,166, 89% lower than this company's loan of $3.33M.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

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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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Source: www.federalpay.org/paycheck-protection-program/algiers-charter-school-association-new-orleans-la