PPP Loan Data — Concord Academy, Concord, MA
Concord Academy is a non-profit organization located at 166 Main Street in Concord, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $2,519,300.00 in May, 2020.
$ PPP Loan Information
Lender:PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION
Concord Academy in Concord, MA received a Paycheck Protection Loan of $2.52M through PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION, which was approved in May, 2020.
Based on standard PPP eligibility rules, Concord Academy's total 2019 payroll expenses were approximately $12.09M in order to qualify for the PPP loan amount received.
Based on their reported 178 jobs retained, this equals an estimated average yearly compensation of $67,936 per employee1.
Business Information - Concord Academy in Concord, MA
166 Main Street
Concord, MA 01742
Elementary and Secondary Schools (NAICS code 611110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MA-03
Similar Companies near Concord
In the Concord area, 5 businesses in the "Elementary and Secondary Schools" industry received a PPP loan. These local businesses reported an average of 80 employees (compared to this company's 178) and received an average PPP loan of $1,015,022 (compared to this company's $2.52M).
Similar Nearby Businesses Who Received PPP Funding:
Nashoba Brooks School Of Concord, Inc.
Collaborative Learning Project
The Fenn School, Inc.
Barn On Winter Street, Inc
Industry PPP Comparison Statistics
Nationwide, 15,362 businesses in the "Elementary and Secondary Schools" industry received a total of $5,824,752,723.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 38 employees, 79% lower than Concord Academy's reported 178 employees, and received an average PPP loan of $379,166, 85% lower than this company's loan of $2.52M.
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, and is published unmodified, as provided by the SBA.
Footnotes & Information
1. 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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