PPP Loan Data — Friends Select School, Philadelphia, PA
Friends Select School is a non-profit organization located at 17th And Benjamin Franklin Parkway in Philadelphia, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $2,394,600.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:PNC Bank, National Association
Friends Select School in Philadelphia, PA received a Paycheck Protection Loan of $2.39M through PNC Bank, National Association, 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, Friends Select School's 2019 payroll expenses are estimated to be at least $11.49M.
Based on their reported 182 jobs retained, this equals an estimated average yearly compensation of $63,154 per employee1
Reported PPP Proceed Usage:
On the PPP application, Friends Select School reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,394,600
Business Information - Friends Select School in Philadelphia, PA
17th And Benjamin Franklin Parkway
Philadelphia, PA 19103
Elementary and Secondary Schools
NAICS code 611110
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Philadelphia
In the Philadelphia area, 16 businesses in the "Elementary and Secondary Schools" industry received a PPP loan. These local businesses reported an average of 34 employees (compared to this company's 182) and received an average PPP loan of $306,309 (compared to this company's $2.39M).
Similar Nearby Businesses Who Received PPP Funding:
Corner Foodery LLC
Greene Towne School Inc
Schools Of Special Education
John W. Hallahan Catholic Girls' High School
Philadelphia Classical School
Pioneer Academics, Pbc
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, 79% lower than Friends Select School's reported 182 employees, and received an average PPP loan of $323,643, 86% lower than this company's loan of $2.39M.
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Footnotes & Information
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