PPP Loan Data — Eastern Christian School Association, North Haledon, NJ
Eastern Christian School Association is a non-profit organization located at 50 Oakwood Ave in North Haledon, New Jersey that received a Coronavirus-related PPP loan from the SBA of $1,511,500.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Eastern Christian School Association in North Haledon, NJ received a Paycheck Protection Loan of $1.51M through Columbia 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, Eastern Christian School Association's 2019 payroll expenses are estimated to be at least $7.26M.
Based on their reported 236 jobs retained, this equals an estimated average yearly compensation of $30,742 per employee1
Reported PPP Proceed Usage:
On the PPP application, Eastern Christian School Association reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,511,500
Business Information - Eastern Christian School Association in North Haledon, NJ
50 Oakwood Ave
North Haledon, NJ 7508
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 North Haledon
In the North Haledon area, 2 businesses in the "Elementary and Secondary Schools" industry received a PPP loan. These local businesses reported an average of 137 employees (compared to this company's 236) and received an average PPP loan of $943,555 (compared to this company's $1.51M).
Similar Nearby Businesses Who Received PPP Funding:
Mary Help Of Christians Academy
North Haledon, 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, 84% lower than Eastern Christian School Association's reported 236 employees, and received an average PPP loan of $323,643, 79% lower than this company's loan of $1.51M.
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Footnotes & Information
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