PPP Loan Data — Hebrew Academy For Special Children, Inc, Brooklyn, NY
Hebrew Academy For Special Children, Inc is a corporation located at 1318 60th Street in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $5,033,700.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Dime Community Bank
Hebrew Academy For Special Children, Inc in Brooklyn, NY received a Paycheck Protection Loan of $5.03M through Dime Community Bank, which was approved in May, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA. According to SBA records, a total of $3.33M in approved PPP funding has not been disbursed.
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, Hebrew Academy For Special Children, Inc's 2019 payroll expenses are estimated to be at least $24.16M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $48,324 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hebrew Academy For Special Children, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,693,700
- Rent: $340,000
Business Information - Hebrew Academy For Special Children, Inc in Brooklyn, NY
1318 60th Street
Brooklyn, NY 11219
Elementary and Secondary Schools
NAICS code 611110
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Brooklyn
In the Brooklyn area, 98 businesses in the "Elementary and Secondary Schools" industry received a PPP loan. These local businesses reported an average of 74 employees (compared to this company's 500) and received an average PPP loan of $462,911 (compared to this company's $5.03M).
Similar Nearby Businesses Who Received PPP Funding:
Bnos Jerusalem Dchasidei Belze Inc
Yeshiva Tifereth Bunim
Nicole Biscardi & Company LLC
Yeshiva Derech Chaim
Yeshivas Boyan Tifereth Mordechai Shlomo
Congregation Beth Jacob S E
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, 92% lower than Hebrew Academy For Special Children, Inc's reported 500 employees, and received an average PPP loan of $323,643, 94% lower than this company's loan of $5.03M.
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Footnotes & Information
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