PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Candle Tutelage LLC, Ellicott City, MD

ALERT: There are 2 PPP loans for a total of $72,438 in our database for businesses with the name "Candle Tutelage LLC" in Ellicott City, MD. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Candle Tutelage LLC

FRANCHISE

MD

Candle Tutelage LLC

Entity: Limited Liability Company (LLC)

Industry: Exam Preparation and Tutoring

Franchise: Kumon

Location: Ellicott City, MD

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Candle Tutelage LLC is a limited liability company (LLC) located at 4269 Buckskin Wood Dr in Ellicott City, Maryland that received a Coronavirus-related PPP loan from the SBA of $37,458.00 in January, 2021. This business is a Kumon franchise.

The company has reported itself as an Asian female owned business, and employed at least fifteen people during the applicable loan loan period.

$ PPP Loan Information
Loan #9676868307

Loan Size:

$37,458

Jobs Retained:

15

Loan Approved:

2021-01-31

Loan Status:

Paid in Full or Forgiven

Lender:

Howard Bank

Candle Tutelage LLC in Ellicott City, MD received a Paycheck Protection Loan of $37,458 through Howard Bank, which was approved in January, 2021.

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 August, 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.

Read More
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.

Read More

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, Candle Tutelage LLC's 2019 payroll expenses are estimated to be at least $179,798.

Based on their reported 15 jobs retained, this equals an estimated average yearly compensation of $11,987 per employee1

Reported PPP Proceed Usage:

On the PPP application, Candle Tutelage LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $37,457

Business Information - Candle Tutelage LLC in Ellicott City, MD

Candle Tutelage LLC
4269 Buckskin Wood Dr
Ellicott City, MD 21042

Business Industry:
Exam Preparation and Tutoring
NAICS code 611691

Business Owner Demographics

Race: Asian

Ethnicity: Not Hispanic or Latino

Gender: Female Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Howard County, MD — SBA Office 0373 — Congressional District: MD-07

Similar Companies near Ellicott City

In the Ellicott City area, 10 businesses in the "Exam Preparation and Tutoring" industry received a PPP loan. These local businesses reported an average of 16 employees (compared to this company's 15) and received an average PPP loan of $39,438 (compared to this company's $37,458).

Industry PPP Comparison Statistics

Nationwide, 10,168 businesses in the "Exam Preparation and Tutoring" industry received a total of $351.71M 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 7 employees, 53% lower than Candle Tutelage LLC's reported 15 employees, and received an average PPP loan of $34,590, 8% lower than this company's loan of $37,458.

SBA PPP loan data, payroll data, and salaries for Candle Tutelage, LLC
MD

Candle Tutelage, LLC

Entity: Limited Liability Company (LLC)

Industry: Offices of Physicians (except Mental Health Specialists)

Location: Ellicott City, MD

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Candle Tutelage, LLC is a limited liability company (LLC) located at 4269 Buckskin Wood Dr in Ellicott City, Maryland that received a Coronavirus-related PPP loan from the SBA of $34,980.00 in April, 2020.

The company has reported itself as an Asian female owned business, and employed at least fifteen people during the applicable loan loan period.

$ PPP Loan Information
Loan #7588517203

Loan Size:

$34,980

Jobs Retained:

15

Loan Approved:

2020-04-28

Loan Status:

Paid in Full or Forgiven

Lender:

Howard Bank

Candle Tutelage, LLC in Ellicott City, MD received a Paycheck Protection Loan of $34,980 through Howard Bank, 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 February, 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.

Read More
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.

Read More

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, Candle Tutelage, LLC's 2019 payroll expenses are estimated to be at least $167,904.

Based on their reported 15 jobs retained, this equals an estimated average yearly compensation of $11,194 per employee1

Reported PPP Proceed Usage:

On the PPP application, Candle Tutelage, LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $34,980

Business Information - Candle Tutelage, LLC in Ellicott City, MD

Candle Tutelage, LLC
4269 Buckskin Wood Dr
Ellicott City, MD 21042

Business Industry:
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111

Business Owner Demographics

Race: Asian

Ethnicity: Not Hispanic or Latino

Gender: Female Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Howard County, MD — SBA Office 0373 — Congressional District: MD-07

Similar Companies near Ellicott City

In the Ellicott City area, 64 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 15) and received an average PPP loan of $60,457 (compared to this company's $34,980).

Industry PPP Comparison Statistics

Nationwide, 176,427 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a total of $21.05B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 3% of the total PPP funding allocated.

PPP recipients in this industry report an average of 11 employees, 27% lower than Candle Tutelage, LLC's reported 15 employees, and received an average PPP loan of $119,313, 241% higher than this company's loan of $34,980.

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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/candle-tutelage-llc-ellicott-city-md