PPP Loan Data — Hebrew Academy Of Cleveland, Cleveland Heights, OH
Hebrew Academy Of Cleveland is a non-profit organization located at 1860 S. Taylor Road in Cleveland Heights, Ohio that received a Coronavirus-related PPP loan from the SBA of $2,037,300.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:PNC Bank, National Association
Hebrew Academy Of Cleveland in Cleveland Heights, OH received a Paycheck Protection Loan of $2.04M through PNC Bank, National Association, which was approved in April, 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.
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 Of Cleveland's 2019 payroll expenses are estimated to be at least $9.78M.
Based on their reported 305 jobs retained, this equals an estimated average yearly compensation of $32,062 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hebrew Academy Of Cleveland reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,037,300
Business Information - Hebrew Academy Of Cleveland in Cleveland Heights, OH
1860 S. Taylor Road
Cleveland Heights, OH 44118
Elementary and Secondary Schools
NAICS code 611110
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Cleveland Heights
In the Cleveland Heights area, 15 businesses in the "Elementary and Secondary Schools" industry received a PPP loan. These local businesses reported an average of 45 employees (compared to this company's 305) and received an average PPP loan of $413,609 (compared to this company's $2.04M).
Similar Nearby Businesses Who Received PPP Funding:
Chaviva High School
Villa Angela - St. Joseph High School
Ties - Teaching Institute For Essential Science, LLC
Cleveland Heights, OH
Congregation Khal Yereim
Cleveland Heights, OH
Hannah's Child Development Center IV Incorporated
Shneur Zalman Goldberg
Vraines Consulting LLC
University Heights, OH
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, 88% lower than Hebrew Academy Of Cleveland's reported 305 employees, and received an average PPP loan of $323,643, 84% lower than this company's loan of $2.04M.
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Footnotes & Information
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