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PPP Loan Data — Magnolia Educational & Research Foundation, Los Angeles, CA

SBA PPP loan data, payroll data, and salaries for Magnolia Educational & Research Foundation
CA Nonprofit Organization

Magnolia Educational & Research Foundation

Entity: Non-profit Organization

Industry: Research and Development in Nanotechnology

Location: Los Angeles, CA

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Magnolia Educational & Research Foundation is a non-profit organization located at 250 E 1st St in Los Angeles, California that received a Coronavirus-related PPP loan from the SBA of $5,461,600.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$5.46M

Jobs Retained:

409

Loan Approved:

2020-04-16

Lender:

CITIBANK, N.A.

Magnolia Educational & Research Foundation received a Paycheck Protection Loan of $5.46M through CITIBANK, N.A., which was approved in April, 2020.

Based on standard PPP eligibility rules, Magnolia Educational & Research Foundation's total 2019 payroll expenses were approximately $26.22M in order to qualify for the PPP loan amount received.

Based on their reported 409 jobs retained, this equals an estimated average yearly compensation of $64,097 per employee1.

Because the loan received by Magnolia Educational & Research Foundation is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Magnolia Educational & Research Foundation in Los Angeles, CA

Magnolia Educational & Research Foundation
250 E 1st St
Los Angeles, CA 90012

Business Industry

Research and Development in Nanotechnology (NAICS code 541713)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: CA-34

Similar Companies near Los Angeles

In the Los Angeles area, 2 businesses in the "Research and Development in Nanotechnology" industry received a PPP loan. These local businesses reported an average of 215 employees (compared to this company's 409) and received an average PPP loan of $2,739,900 (compared to this company's $5.46M).

Similar Nearby Businesses Who Received PPP Funding:

Advantageous Systems LLC
Los Angeles, CA

$18,200 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 568 businesses in the "Research and Development in Nanotechnology" industry received a total of $121,547,035.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 12 employees, 97% lower than Magnolia Educational & Research Foundation's reported 409 employees, and received an average PPP loan of $213,991, 96% lower than this company's loan of $5.46M.

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.

Search FederalPay's Full PPP Loan Database

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.


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Source: www.federalpay.org/paycheck-protection-program/magnolia-educational-and-research-foundation-los-angeles-ca