PPP Loan Data — Lausanne Collegiate School, Memphis, TN
Lausanne Collegiate School is a non-profit organization located at 1381 Massey Rd in Memphis, Tennessee that received a Coronavirus-related PPP loan from the SBA of $2,176,200.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Truist Bank d/b/a Branch Banking & Trust Co
Lausanne Collegiate School in Memphis, TN received a Paycheck Protection Loan of $2.18M through Truist Bank d/b/a Branch Banking & Trust Co, which was approved in April, 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, Lausanne Collegiate School's 2019 payroll expenses are estimated to be at least $10.45M.
Based on their reported 190 jobs retained, this equals an estimated average yearly compensation of $54,978 per employee1
Reported PPP Proceed Usage:
On the PPP application, Lausanne Collegiate School reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,176,200
Business Information - Lausanne Collegiate School in Memphis, TN
1381 Massey Rd
Memphis, TN 38120
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 Memphis
In the Memphis area, 4 businesses in the "Elementary and Secondary Schools" industry received a PPP loan. These local businesses reported an average of 98 employees (compared to this company's 190) and received an average PPP loan of $1,129,703 (compared to this company's $2.18M).
Similar Nearby Businesses Who Received PPP Funding:
Bornblum Jewish Community School Inc
Peer Power Foundation Inc
Christian Brothers Lasalle High School
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, 80% lower than Lausanne Collegiate School's reported 190 employees, and received an average PPP loan of $323,643, 85% lower than this company's loan of $2.18M.
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Footnotes & Information
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