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PPP Loan Data — Boys & Girls Clubs Of The Peninsula, Menlo Park, CA

SBA PPP loan data, payroll data, and salaries for Boys & Girls Clubs Of The Peninsula
CA Nonprofit Organization

Boys & Girls Clubs Of The Peninsula

Entity: Non-profit Organization

Industry: Child and Youth Services

Location: Menlo Park, CA

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Boys & Girls Clubs Of The Peninsula is a non-profit organization located at 401 Pierce Rd in Menlo Park, California that received a Coronavirus-related PPP loan from the SBA of $1,891,500.00 in April, 2020.

$ PPP Loan Information
Loan #3480617100

Loan Size:

$1.89M

Jobs Retained:

242

Loan Approved:

2020-04-11

Loan Status:

Paid in Full or Forgiven

Lender:

Boston Private Bank & Trust Company

Boys & Girls Clubs Of The Peninsula in Menlo Park, CA received a Paycheck Protection Loan of $1.89M through Boston Private Bank & Trust Company, 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 April, 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.

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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.

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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, Boys & Girls Clubs Of The Peninsula's 2019 payroll expenses are estimated to be at least $9.08M.

Based on their reported 242 jobs retained, this equals an estimated average yearly compensation of $37,517 per employee1

Reported PPP Proceed Usage:

On the PPP application, Boys & Girls Clubs Of The Peninsula reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,891,500

Business Information - Boys & Girls Clubs Of The Peninsula in Menlo Park, CA

Boys & Girls Clubs Of The Peninsula
401 Pierce Rd
Menlo Park, CA 94025

Business Industry:
Child and Youth Services
NAICS code 624110

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: Y

HUBZone: Y

Rural / Urban: Urban

San Mateo County, CA — SBA Office 0912 — Congressional District: CA-14

Industry PPP Comparison Statistics

Nationwide, 14,718 businesses in the "Child and Youth Services" industry received a total of $1.94B 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 18 employees, 93% lower than Boys & Girls Clubs Of The Peninsula's reported 242 employees, and received an average PPP loan of $132,042, 93% lower than this company's loan of $1.89M.

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/boys-girls-clubs-of-the-peninsula-menlo-park-ca