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PPP Loan Data — Empire Education Group, Inc., Pottsville, PA

SBA PPP loan data, payroll data, and salaries for Empire Education Group, Inc.
PA

Empire Education Group, Inc.

Entity: Corporation

Industry: Cosmetology and Barber Schools

Location: Pottsville, PA

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Empire Education Group, Inc. is a corporation located at 396 Pottsville- St Clair Highway in Pottsville, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $10,000,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$10M

Jobs Retained:

500

Loan Approved:

2020-04-08

Lender:

FIDELITY DEPOSIT AND DISCOUNT BANK

Empire Education Group, Inc. in Pottsville, PA received a Paycheck Protection Loan of $10M through FIDELITY DEPOSIT AND DISCOUNT BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Empire Education Group, Inc.'s total 2019 payroll expenses were approximately $48M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $96,000 per employee1.

Because the loan received by Empire Education Group, Inc. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Empire Education Group, Inc. in Pottsville, PA

Empire Education Group, Inc.
396 Pottsville- St Clair Highway
Pottsville, PA 17901

Business Industry

Cosmetology and Barber Schools (NAICS code 611511)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: PA-09

Industry PPP Comparison Statistics

Nationwide, 2,814 businesses in the "Cosmetology and Barber Schools" industry received a total of $133,965,019.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 6 employees, 99% lower than Empire Education Group, Inc.'s reported 500 employees, and received an average PPP loan of $47,607, 100% lower than this company's loan of $10M.

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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/empire-education-group-inc-pottsville-pa