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PPP Loan Data — Garrison Forest School, Owings Mills, MD

SBA PPP loan data, payroll data, and salaries for Garrison Forest School
MD

Garrison Forest School

Entity: Corporation

Industry: Elementary and Secondary Schools

Location: Owings Mills, MD

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Garrison Forest School is a corporation located at 300 Garrison Forest Rd in Owings Mills, Maryland that received a Coronavirus-related PPP loan from the SBA of $2,444,300.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.44M

Jobs Retained:

284

Loan Approved:

2020-04-10

Lender:

TRUIST BANK D/B/A BRANCH BANKING & TRUST CO

Garrison Forest School in Owings Mills, MD received a Paycheck Protection Loan of $2.44M through TRUIST BANK D/B/A BRANCH BANKING & TRUST CO, which was approved in April, 2020.

Based on standard PPP eligibility rules, Garrison Forest School's total 2019 payroll expenses were approximately $11.73M in order to qualify for the PPP loan amount received.

Based on their reported 284 jobs retained, this equals an estimated average yearly compensation of $41,312 per employee1.

Because the loan received by Garrison Forest School 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 - Garrison Forest School in Owings Mills, MD

Garrison Forest School
300 Garrison Forest Rd
Owings Mills, MD 21117

Business Industry

Elementary and Secondary Schools (NAICS code 611110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MD-03

Similar Companies near Owings Mills

In the Owings Mills area, 7 businesses in the "Elementary and Secondary Schools" industry received a PPP loan. These local businesses reported an average of 127 employees (compared to this company's 284) and received an average PPP loan of $1,581,857 (compared to this company's $2.44M).

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, 87% lower than Garrison Forest School's reported 284 employees, and received an average PPP loan of $379,166, 84% lower than this company's loan of $2.44M.

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.

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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/garrison-forest-school-owings-mills-md