PPP Loan Data — King's Ridge Christian School Inc, Alpharetta, GA
King's Ridge Christian School Inc is a corporation located at 2765 Bethany Bnd in Alpharetta, Georgia that received a Coronavirus-related PPP loan from the SBA of $1,853,117.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
King's Ridge Christian School Inc in Alpharetta, GA received a Paycheck Protection Loan of $1.85M through Synovus Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in December, 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, King's Ridge Christian School Inc's 2019 payroll expenses are estimated to be at least $8.89M.
Based on their reported 167 jobs retained, this equals an estimated average yearly compensation of $53,263 per employee1
Reported PPP Proceed Usage:
On the PPP application, King's Ridge Christian School Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,853,117
Business Information - King's Ridge Christian School Inc in Alpharetta, GA
2765 Bethany Bnd
Alpharetta, GA 30004
Elementary and Secondary Schools
NAICS code 611110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Alpharetta
In the Alpharetta area, 13 businesses in the "Elementary and Secondary Schools" industry received a PPP loan. These local businesses reported an average of 37 employees (compared to this company's 167) and received an average PPP loan of $392,446 (compared to this company's $1.85M).
Similar Nearby Businesses Who Received PPP Funding:
New Heights Academy Inc
Math Na LLC
Bridgeway Foundation For Education
William & Reed Academy LLC
Johns Creek, GA
Mill Springs Academy Inc
Montessori Christian Academy Inc
Lionheart Partners LLC
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, 77% lower than King's Ridge Christian School Inc's reported 167 employees, and received an average PPP loan of $323,643, 83% lower than this company's loan of $1.85M.
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Footnotes & Information
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