PPP Loan Data — Digital Promise Global, Washington, DC
Digital Promise Global is a non-profit organization located at 1001 Connecticut Ave Nw Ste 935 in Washington, District of Columbia that received a Coronavirus-related PPP loan from the SBA of $1,766,242.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Digital Promise Global in Washington, DC received a Paycheck Protection Loan of $1.77M through Bank of America, National Association, 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 April, 2021.
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, Digital Promise Global's 2019 payroll expenses are estimated to be at least $8.48M.
Based on their reported 106 jobs retained, this equals an estimated average yearly compensation of $79,981 per employee1
Reported PPP Proceed Usage:
On the PPP application, Digital Promise Global reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,766,242
Business Information - Digital Promise Global in Washington, DC
1001 Connecticut Ave Nw Ste 935
Washington, DC 20036
All Other Miscellaneous Schools and Instruction
NAICS code 611699
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Washington
In the Washington area, 15 businesses in the "All Other Miscellaneous Schools and Instruction" industry received a PPP loan. These local businesses reported an average of 18 employees (compared to this company's 106) and received an average PPP loan of $220,347 (compared to this company's $1.77M).
Similar Nearby Businesses Who Received PPP Funding:
Washington Workshops Foundation Inc
American Humanist Association
Consortium Of Universities For Global He
Global Campaign For Education Us Inc
United States Telecommunications
Middle East Policy Council
Industry PPP Comparison Statistics
Nationwide, 28,242 businesses in the "All Other Miscellaneous Schools and Instruction" industry received a total of $1.52B 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 9 employees, 92% lower than Digital Promise Global's reported 106 employees, and received an average PPP loan of $53,678, 97% lower than this company's loan of $1.77M.
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Footnotes & Information
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