PPP Loan Data — Leaders Academy Inc, Philadelphia, PA
Leaders Academy Inc is a non-profit organization located at 123 East Luzerne Street in Philadelphia, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $25,293.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Manufacturers and Traders Trust Company
Leaders Academy Inc in Philadelphia, PA received a Paycheck Protection Loan of $25,293 through Manufacturers and Traders Trust Company, 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, Leaders Academy Inc's 2019 payroll expenses are estimated to be at least $121,406.
Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $12,141 per employee1
Reported PPP Proceed Usage:
On the PPP application, Leaders Academy Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $18,970
- Utilities: $1,323
- Rent: $5,000
Business Information - Leaders Academy Inc in Philadelphia, PA
123 East Luzerne Street
Philadelphia, PA 19124
Educational Support Services
NAICS code 611710
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Philadelphia
In the Philadelphia area, 12 businesses in the "Educational Support Services" industry received a PPP loan. These local businesses reported an average of 45 employees (compared to this company's 10) and received an average PPP loan of $583,423 (compared to this company's $25,293).
Similar Nearby Businesses Who Received PPP Funding:
The Tachs Farm
Childrens Literacy Initiative
Dripping Knowledge Childcare, LLC
Industry PPP Comparison Statistics
Nationwide, 39,474 businesses in the "Educational Support Services" industry received a total of $2.35B 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 7 employees, 30% lower than Leaders Academy Inc's reported 10 employees, and received an average PPP loan of $59,417, 135% higher than this company's loan of $25,293.
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Footnotes & Information
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