PPP Loan Data — Laguna College Of Art & Design, Laguna Beach, CA
Laguna College Of Art & Design is a non-profit organization located at 2222 Laguna Canyon Rd in Laguna Beach, California that received a Coronavirus-related PPP loan from the SBA of $1,956,500.00 in April, 2020.
The company has reported itself as a male owned non-profit, and employed at least 401 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Laguna College Of Art & Design in Laguna Beach, CA received a Paycheck Protection Loan of $1.96M through CalPrivate 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 April, 2021.
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, Laguna College Of Art & Design's 2019 payroll expenses are estimated to be at least $9.39M.
Based on their reported 401 jobs retained, this equals an estimated average yearly compensation of $23,419 per employee1
Reported PPP Proceed Usage:
On the PPP application, Laguna College Of Art & Design reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,956,500
Business Information - Laguna College Of Art & Design in Laguna Beach, CA
2222 Laguna Canyon Rd
Laguna Beach, CA 92651
Colleges, Universities, and Professional Schools
NAICS code 611310
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 3,280 businesses in the "Colleges, Universities, and Professional Schools" industry received a total of $2.08B 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 76 employees, 81% lower than Laguna College Of Art & Design's reported 401 employees, and received an average PPP loan of $633,118, 68% lower than this company's loan of $1.96M.
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Footnotes & Information
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