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PPP Loan Data — Grace Church School,
New York, NY
Grace Church School
Entity: Non-profit Organization
Industry: Religious Organizations
Location: New York, NY
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Grace Church School is a non-profit organization located at 86 Fourth Avenue in New York, New York that received a Coronavirus-related PPP loan from the SBA of $3,431,500.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
388Loan Approved:
2020-04-13Lender:
CONNECTONE BANKGrace Church School in New York, NY received a Paycheck Protection Loan of $3.43M through CONNECTONE BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Grace Church School's total 2019 payroll expenses were approximately $16.47M in order to qualify for the PPP loan amount received.
Based on their reported 388 jobs retained, this equals an estimated average yearly compensation of $42,452 per employee1.
Business Information - Grace Church School in New York, NY
86 Fourth Avenue
New York, NY 10003
Business Industry
Religious Organizations (NAICS code 813110)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: NY-12Similar Companies near New York
In the New York area, 40 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 18 employees (compared to this company's 388) and received an average PPP loan of $186,759 (compared to this company's $3.43M).
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Industry PPP Comparison Statistics
Nationwide, 90,482 businesses in the "Religious Organizations" industry received a total of $7,309,297,472.00 in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 11 employees, 97% lower than Grace Church School's reported 388 employees, and received an average PPP loan of $80,782, 98% lower than this company's loan of $3.43M.
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.
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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