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PPP Loan Data — ASA College, Inc., Brooklyn, NY

SBA PPP loan data, payroll data, and salaries for ASA College, Inc.
NY

ASA College, Inc.

Entity: Corporation

Industry: Colleges, Universities, and Professional Schools

Location: Brooklyn, NY

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ASA College, Inc. is a corporation located at 151 Lawrence Street in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $5,624,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$5.62M

Jobs Retained:

415

Loan Approved:

2020-04-06

Lender:

CITY NATIONAL BANK OF FLORIDA

ASA College, Inc. received a Paycheck Protection Loan of $5.62M through CITY NATIONAL BANK OF FLORIDA, which was approved in April, 2020.

Based on standard PPP eligibility rules, ASA College, Inc.'s total 2019 payroll expenses were approximately $27M in order to qualify for the PPP loan amount received.

Based on their reported 415 jobs retained, this equals an estimated average yearly compensation of $65,049 per employee1.

Because the loan received by ASA College, 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 - ASA College, Inc. in Brooklyn, NY

ASA College, Inc.
151 Lawrence Street
Brooklyn, NY 11201

Business Industry

Colleges, Universities, and Professional Schools (NAICS code 611310)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NY-08

Similar Companies near Brooklyn

In the Brooklyn area, 3 businesses in the "Colleges, Universities, and Professional Schools" industry received a PPP loan. These local businesses reported an average of 296 employees (compared to this company's 415) and received an average PPP loan of $3,735,577 (compared to this company's $5.62M).

Industry PPP Comparison Statistics

Nationwide, 2,077 businesses in the "Colleges, Universities, and Professional Schools" industry received a total of $1,723,864,433.00 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 86 employees, 79% lower than ASA College, Inc.'s reported 415 employees, and received an average PPP loan of $829,978, 85% lower than this company's loan of $5.62M.

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.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/asa-college-inc-brooklyn-ny