PPP Loan Data — Making Waves Academy, Richmond, CA
Making Waves Academy is a corporation located at 4123 Lakeside Dr in Richmond, California that received a Coronavirus-related PPP loan from the SBA of $2,474,435.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:JPMorgan Chase Bank, National Association
Making Waves Academy in Richmond, CA received a Paycheck Protection Loan of $2.47M through JPMorgan Chase Bank, National Association, which was approved in May, 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 September, 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, Making Waves Academy's 2019 payroll expenses are estimated to be at least $11.88M.
Based on their reported 139 jobs retained, this equals an estimated average yearly compensation of $85,448 per employee1
Reported PPP Proceed Usage:
On the PPP application, Making Waves Academy reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,161,221
- Utilities: $64,578
- Rent: $248,636
Business Information - Making Waves Academy in Richmond, CA
4123 Lakeside Dr
Richmond, CA 94806
Elementary and Secondary Schools
NAICS code 611110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Richmond
In the Richmond area, 6 businesses in the "Elementary and Secondary Schools" industry received a PPP loan. These local businesses reported an average of 35 employees (compared to this company's 139) and received an average PPP loan of $484,728 (compared to this company's $2.47M).
Similar Nearby Businesses Who Received PPP Funding:
Crestmont School - Owner
Universal Mercy Inc
San Pablo, CA
La Loma No 1
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, 73% lower than Making Waves Academy's reported 139 employees, and received an average PPP loan of $323,643, 87% lower than this company's loan of $2.47M.
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Footnotes & Information
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