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PPP Loan Data — American Institute For Foreign Study, Inc, Stamford, CT

SBA PPP loan data, payroll data, and salaries for American Institute For Foreign Study, Inc
CT

American Institute For Foreign Study, Inc

Entity: Corporation

Industry: Educational Support Services

Location: Stamford, CT

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American Institute For Foreign Study, Inc is a corporation located at 1 High Ridge Park 0.0 in Stamford, Connecticut that received a Coronavirus-related PPP loan from the SBA of $4,482,500.00 in April, 2020.

$ PPP Loan Information
Loan #5467467108

Loan Size:

$4.48M

Jobs Retained:

359

Loan Approved:

2020-04-13

Loan Status:

Paid in Full or Forgiven

Lender:

JPMorgan Chase Bank, National Association

American Institute For Foreign Study, Inc in Stamford, CT received a Paycheck Protection Loan of $4.48M through JPMorgan Chase Bank, National Association, which was approved in April, 2020.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in September, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, American Institute For Foreign Study, Inc's 2019 payroll expenses are estimated to be at least $21.52M.

Based on their reported 359 jobs retained, this equals an estimated average yearly compensation of $59,933 per employee1

Reported PPP Proceed Usage:

On the PPP application, American Institute For Foreign Study, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $3,328,036
  • Utilities: $10,000
  • Rent: $295,461
  • Health Care: $849,003
Because the loan received by American Institute For Foreign Study, Inc 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 - American Institute For Foreign Study, Inc in Stamford, CT

American Institute For Foreign Study, Inc
1 High Ridge Park 0.0
Stamford, CT 6905

Business Industry:
Educational Support Services
NAICS code 611710

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Fairfield County, CT — SBA Office 0156 — Congressional District: CT-04

Businesses Using Same Address:

There is one other business that received a PPP loan registered to the same address as American Institute For Foreign Study, Inc.

Global Experiences, Inc
Educational Support Services

$355,000 PPP Loan

Similar Companies near Stamford

In the Stamford area, 11 businesses in the "Educational Support Services" industry received a PPP loan. These local businesses reported an average of 54 employees (compared to this company's 359) and received an average PPP loan of $697,778 (compared to this company's $4.48M).

Industry PPP Comparison Statistics

Nationwide, 38,218 businesses in the "Educational Support Services" industry received a total of $2.32B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.

PPP recipients in this industry report an average of 7 employees, 98% lower than American Institute For Foreign Study, Inc's reported 359 employees, and received an average PPP loan of $60,661, 99% lower than this company's loan of $4.48M.

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. Estimations for informational purposes only. 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/american-institute-for-foreign-study-inc-stamford-ct