PPP Loan Data — Gestalt Community Schools, Memphis, TN
Gestalt Community Schools is a non-profit organization located at 2650 Thousand Oaks Blvd in Memphis, Tennessee that received a Coronavirus-related PPP loan from the SBA of $2,783,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Gestalt Community Schools in Memphis, TN received a Paycheck Protection Loan of $2.78M through Pinnacle 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, Gestalt Community Schools' 2019 payroll expenses are estimated to be at least $13.36M.
Based on their reported 244 jobs retained, this equals an estimated average yearly compensation of $54,748 per employee1
Reported PPP Proceed Usage:
On the PPP application, Gestalt Community Schools reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,783,000
Business Information - Gestalt Community Schools in Memphis, TN
2650 Thousand Oaks Blvd
Memphis, TN 38118
Elementary and Secondary Schools
NAICS code 611110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Memphis
In the Memphis area, 11 businesses in the "Elementary and Secondary Schools" industry received a PPP loan. These local businesses reported an average of 105 employees (compared to this company's 244) and received an average PPP loan of $1,047,934 (compared to this company's $2.78M).
Similar Nearby Businesses Who Received PPP Funding:
ST. Mary's Episcopal School
Tennessee Assn Of Independent Schools (Tais)
Memphis Merit Academy Inc
Memphis University School
Bowie Reading & Learning Center
Harding Academy Of Memphis, Inc
The Westminster Academy, Inc
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 Gestalt Community Schools' reported 244 employees, and received an average PPP loan of $323,643, 88% lower than this company's loan of $2.78M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!