PPP Loan Data — Learning Grove Inc, Covington, KY
Learning Grove Inc is a non-profit organization located at 333 Madison Ave in Covington, Kentucky that received a Coronavirus-related PPP loan from the SBA of $1,879,500.00 in April, 2020.
$ PPP Loan Information
Lender:PNC BANK, NATIONAL ASSOCIATION
Learning Grove Inc received a Paycheck Protection Loan of $1.88M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Learning Grove Inc's total 2019 payroll expenses were approximately $9.02M in order to qualify for the PPP loan amount received.
Based on their reported 361 jobs retained, this equals an estimated average yearly compensation of $24,991 per employee1.
Business Information - Learning Grove Inc in Covington, KY
333 Madison Ave
Covington, KY 41011
Unclassified Establishments (NAICS code 999990)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: KY-04
Similar Companies near Covington
In the Covington area, 10 businesses in the "Unclassified Establishments" industry received a PPP loan. These local businesses reported an average of 43 employees (compared to this company's 361) and received an average PPP loan of $224,235 (compared to this company's $1.88M).
Similar Nearby Businesses Who Received PPP Funding:
Bluegrass Elite Crete
Stetter & Stetter LLC
Fort Wright, KY
Clifford Business Group, Inc.
MC2 Global, LLC
Ft Wright, KY
NSR Enterprises LLC
Blue Tide Management, Inc
Industry PPP Comparison Statistics
Nationwide, 86,245 businesses in the "Unclassified Establishments" industry received a total of $3,723,225,376.00 in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 6 employees, 98% lower than Learning Grove Inc's reported 361 employees, and received an average PPP loan of $43,170, 98% lower than this company's loan of $1.88M.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.
All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
Have FederalPay.org's open data tools been valuable? Consider donating!