PPP Loan Data — Coney Island Preparatory Public Charter, Brooklyn, NY
Coney Island Preparatory Public Charter is a non-profit organization located at 315 Ave U 1st Floor in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $2,555,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Coney Island Preparatory Public Charter in Brooklyn, NY received a Paycheck Protection Loan of $2.56M through Signature Bank, which was approved in April, 2020.
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, Coney Island Preparatory Public Charter's 2019 payroll expenses are estimated to be at least $12.26M.
Based on their reported 165 jobs retained, this equals an estimated average yearly compensation of $74,327 per employee1
Reported PPP Proceed Usage:
On the PPP application, Coney Island Preparatory Public Charter reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,555,000
Business Information - Coney Island Preparatory Public Charter in Brooklyn, NY
315 Ave U 1st Floor
Brooklyn, NY 11223
Elementary and Secondary Schools
NAICS code 611110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Brooklyn
In the Brooklyn area, 31 businesses in the "Elementary and Secondary Schools" industry received a PPP loan. These local businesses reported an average of 95 employees (compared to this company's 165) and received an average PPP loan of $837,647 (compared to this company's $2.56M).
Similar Nearby Businesses Who Received PPP Funding:
Yeshivat Darche Eres, Inc
Mirrer Yeshiva Educational Institute
Big Apple Institute Inc
Ateret Torah Center
Bnot Rachel High School
Magen David Yeshivah
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, 77% lower than Coney Island Preparatory Public Charter's reported 165 employees, and received an average PPP loan of $323,643, 87% lower than this company's loan of $2.56M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!