PPP Loan Data — Christian Brothers Academy, Lincroft, NJ
Christian Brothers Academy is a non-profit organization located at 850 Newman Springs Rd in Lincroft, New Jersey that received a Coronavirus-related PPP loan from the SBA of $1,896,500.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Christian Brothers Academy in Lincroft, NJ received a Paycheck Protection Loan of $1.9M through Amboy Bank, 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, Christian Brothers Academy's 2019 payroll expenses are estimated to be at least $9.1M.
Based on their reported 127 jobs retained, this equals an estimated average yearly compensation of $71,679 per employee1
Reported PPP Proceed Usage:
On the PPP application, Christian Brothers Academy reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,896,500
Business Information - Christian Brothers Academy in Lincroft, NJ
850 Newman Springs Rd
Lincroft, NJ 7738
Elementary and Secondary Schools
NAICS code 611110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Lincroft
In the Lincroft area, 4 businesses in the "Elementary and Secondary Schools" industry received a PPP loan. These local businesses reported an average of 58 employees (compared to this company's 127) and received an average PPP loan of $684,557 (compared to this company's $1.9M).
Similar Nearby Businesses Who Received PPP Funding:
Oak Hill Academy
The Jersey Shore Free School Inc
Little Silver, NJ
Jersey Shore Free School
Little Silver, NJ
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, 70% lower than Christian Brothers Academy's reported 127 employees, and received an average PPP loan of $323,643, 83% lower than this company's loan of $1.9M.
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Footnotes & Information
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