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PPP Loan Data — Assumption College, Worcester, MA

SBA PPP loan data, payroll data, and salaries for Assumption College
MA Nonprofit Organization

Assumption College

Entity: Non-profit Organization

Industry: Colleges, Universities, and Professional Schools

Location: Worcester, MA

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Assumption College is a non-profit organization located at 500 Salisbury St in Worcester, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $7,500,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$7.5M

Jobs Retained:

429

Loan Approved:

2020-04-11

Lender:

TD BANK, NATIONAL ASSOCIATION

Assumption College received a Paycheck Protection Loan of $7.5M through TD BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Assumption College's total 2019 payroll expenses were approximately $36M in order to qualify for the PPP loan amount received.

Based on their reported 429 jobs retained, this equals an estimated average yearly compensation of $83,916 per employee1.

Because the loan received by Assumption College 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 - Assumption College in Worcester, MA

Assumption College
500 Salisbury St
Worcester, MA 1609

Business Industry

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

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MA-02

Similar Companies near Worcester

In the Worcester area, 3 businesses in the "Colleges, Universities, and Professional Schools" industry received a PPP loan. These local businesses reported an average of 281 employees (compared to this company's 429) and received an average PPP loan of $3,639,046 (compared to this company's $7.5M).

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, 80% lower than Assumption College's reported 429 employees, and received an average PPP loan of $829,978, 89% lower than this company's loan of $7.5M.

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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Source: www.federalpay.org/paycheck-protection-program/assumption-college-worcester-ma