PPP Loan Data — Columbia College, Columbia, SC
Columbia College is a non-profit organization located at 1301 Columbia College Dr in Columbia, South Carolina that received a Coronavirus-related PPP loan from the SBA of $2,362,669.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Columbia College in Columbia, SC received a Paycheck Protection Loan of $2.36M through Synovus 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, Columbia College's 2019 payroll expenses are estimated to be at least $11.34M.
Based on their reported 380 jobs retained, this equals an estimated average yearly compensation of $29,844 per employee1
Reported PPP Proceed Usage:
On the PPP application, Columbia College reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,362,669
Business Information - Columbia College in Columbia, SC
1301 Columbia College Dr
Columbia, SC 29203
Colleges, Universities, and Professional Schools
NAICS code 611310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Columbia
In the Columbia area, 5 businesses in the "Colleges, Universities, and Professional Schools" industry received a PPP loan. These local businesses reported an average of 211 employees (compared to this company's 380) and received an average PPP loan of $1,757,978 (compared to this company's $2.36M).
Similar Nearby Businesses Who Received PPP Funding:
W. L. Bonner College
The Benedict College
Industry PPP Comparison Statistics
Nationwide, 3,280 businesses in the "Colleges, Universities, and Professional Schools" industry received a total of $2.08B 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 76 employees, 80% lower than Columbia College's reported 380 employees, and received an average PPP loan of $633,118, 73% lower than this company's loan of $2.36M.
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Footnotes & Information
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