PPP Loan Data — Bedford Stuyvesant New Beginnings Charter School, Brooklyn, NY
Bedford Stuyvesant New Beginnings Charter School is a non-profit organization located at 82 Lewis Avenue in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $1,985,589.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Capital One, National Association
Bedford Stuyvesant New Beginnings Charter School in Brooklyn, NY received a Paycheck Protection Loan of $1.99M through Capital One, National Association, which was approved in April, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, Bedford Stuyvesant New Beginnings Charter School's 2019 payroll expenses are estimated to be at least $9.53M.
Based on their reported 113 jobs retained, this equals an estimated average yearly compensation of $84,344 per employee1
Reported PPP Proceed Usage:
On the PPP application, Bedford Stuyvesant New Beginnings Charter School reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,985,589
Business Information - Bedford Stuyvesant New Beginnings Charter School in Brooklyn, NY
82 Lewis Avenue
Brooklyn, NY 11206
Elementary and Secondary Schools
NAICS code 611110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Brooklyn
In the Brooklyn area, 29 businesses in the "Elementary and Secondary Schools" industry received a PPP loan. These local businesses reported an average of 33 employees (compared to this company's 113) and received an average PPP loan of $357,305 (compared to this company's $1.99M).
Similar Nearby Businesses Who Received PPP Funding:
Hychel Hatorah Of Williamsburg
Skool Krafts Inc
Hyde Leadership Charter School-Brooklyn
The Nature Company
Michael T. Ochs
Trey Whitfield School
Imagine Me Leadership Charter School
Greene Hill School
Industry PPP Comparison Statistics
Nationwide, 22,714 businesses in the "Elementary and Secondary Schools" industry received a total of $7.35B 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 38 employees, 66% lower than Bedford Stuyvesant New Beginnings Charter School's reported 113 employees, and received an average PPP loan of $323,643, 84% lower than this company's loan of $1.99M.
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Footnotes & Information
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