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PPP Loan Data — Firstline Schools, New Orleans, LA

SBA PPP loan data, payroll data, and salaries for Firstline Schools
LA Nonprofit Organization

Firstline Schools

Entity: Non-profit Organization

Industry: Elementary and Secondary Schools

Location: New Orleans, LA

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Firstline Schools is a non-profit organization located at 300 N. Broad St, Suite 207 in New Orleans, Louisiana that received a Coronavirus-related PPP loan from the SBA of $5,002,013.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$5M

Jobs Retained:

418

Loan Approved:

2020-04-10

Lender:

LIBERTY BANK AND TRUST COMPANY

Firstline Schools received a Paycheck Protection Loan of $5M through LIBERTY BANK AND TRUST COMPANY, which was approved in April, 2020.

Based on standard PPP eligibility rules, Firstline Schools' total 2019 payroll expenses were approximately $24.01M in order to qualify for the PPP loan amount received.

Based on their reported 418 jobs retained, this equals an estimated average yearly compensation of $57,439 per employee1.

Because the loan received by Firstline Schools 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 - Firstline Schools in New Orleans, LA

Firstline Schools
300 N. Broad St, Suite 207
New Orleans, LA 70119

Business Industry

Elementary and Secondary Schools (NAICS code 611110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: LA-02

Similar Companies near New Orleans

In the New Orleans area, 21 businesses in the "Elementary and Secondary Schools" industry received a PPP loan. These local businesses reported an average of 112 employees (compared to this company's 418) and received an average PPP loan of $1,193,048 (compared to this company's $5M).

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, 91% lower than Firstline Schools' reported 418 employees, and received an average PPP loan of $379,166, 92% lower than this company's loan of $5M.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.

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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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Source: www.federalpay.org/paycheck-protection-program/firstline-schools-new-orleans-la