PPP Loan Data — Assumption College, Worcester, MA
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
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.
Business Information - Assumption College in Worcester, MA
500 Salisbury St
Worcester, MA 1609
Colleges, Universities, and Professional Schools (NAICS code 611310)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional 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).
Similar Nearby Businesses Who Received PPP Funding:
Massachusetts Community College Council, Inc.
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.
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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