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PPP Loan Data — Management Concepts Inc,
Vienna, VA
Management Concepts Inc
Entity: Corporation
Industry: Professional and Management Development Training
Location: Vienna, VA
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Management Concepts Inc is a corporation located at 8230 Leesburg Pike Ste 800 in Vienna, Virginia that received a Coronavirus-related PPP loan from the SBA of $1,299,800.00 in January, 2021.
$
PPP Loan Information
Loan #5145538305
Loan Size:
Jobs Retained:
203Loan Approved:
2021-01-25Loan Status:
Paid in Full or ForgivenLender:
MainStreet BankManagement Concepts Inc in Vienna, VA received a Paycheck Protection Loan of $1.3M through MainStreet Bank, which was approved in January, 2021.
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 July, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Management Concepts Inc's 2019 payroll expenses are estimated to be at least $6.24M.
Based on their reported 203 jobs retained, this equals an estimated average yearly compensation of $30,734 per employee1
Reported PPP Proceed Usage:
On the PPP application, Management Concepts Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,299,800
Business Information - Management Concepts Inc in Vienna, VA
8230 Leesburg Pike Ste 800
Vienna, VA 22182
Business Industry:
Professional and Management Development Training
NAICS code 611430
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Vienna
In the Vienna area, 8 businesses in the "Professional and Management Development Training" industry received a PPP loan. These local businesses reported an average of 28 employees (compared to this company's 203) and received an average PPP loan of $195,355 (compared to this company's $1.3M).
Similar Nearby Businesses Who Received PPP Funding:
Appleby & Associates LLC
Vienna, VA
Wi-Her LLC
Vienna, VA
Talent Strategy, LLC
Vienna, VA
Leadership Fairfax Inc
Vienna, VA
It Professional Group Inc
Vienna, VA
Industry PPP Comparison Statistics
Nationwide, 11,881 businesses in the "Professional and Management Development Training" industry received a total of $595.84M 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 4 employees, 98% lower than Management Concepts Inc's reported 203 employees, and received an average PPP loan of $50,150, 96% lower than this company's loan of $1.3M.
Management Concepts, Inc
Entity: Corporation
Industry: All Other Miscellaneous Schools and Instruction
Location: Vienna, VA
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Management Concepts, Inc is a corporation located at 8230 Leesburg Pike Suite 800 in Vienna, Virginia that received a Coronavirus-related PPP loan from the SBA of $3,700,200.00 in April, 2020.
$
PPP Loan Information
Loan #4608537007
Loan Size:
Jobs Retained:
190Loan Approved:
2020-04-04Loan Status:
Paid in Full or ForgivenLender:
MainStreet BankManagement Concepts, Inc in Vienna, VA received a Paycheck Protection Loan of $3.7M through MainStreet Bank, which was approved in April, 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 July, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Management Concepts, Inc's 2019 payroll expenses are estimated to be at least $17.76M.
Based on their reported 190 jobs retained, this equals an estimated average yearly compensation of $93,479 per employee1
Reported PPP Proceed Usage:
On the PPP application, Management Concepts, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,700,200
Business Information - Management Concepts, Inc in Vienna, VA
8230 Leesburg Pike Suite 800
Vienna, VA 22182
Business Industry:
All Other Miscellaneous Schools and Instruction
NAICS code 611699
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Vienna
In the Vienna area, 14 businesses in the "All Other Miscellaneous Schools and Instruction" industry received a PPP loan. These local businesses reported an average of 26 employees (compared to this company's 190) and received an average PPP loan of $339,852 (compared to this company's $3.7M).
Similar Nearby Businesses Who Received PPP Funding:
Vipkid
Vienna, VA
RMC Capital Holdings LLC
Vienna, VA
Childhood Learning LLC
Vienna, VA
Mclean A Plus Inc
Vienna, VA
Pmgw LLC
Vienna, VA
Financial Education Corporation
Vienna, VA
Tysons Kids LLC
Vienna, VA
Heather Fleener
Vienna, VA
Industry PPP Comparison Statistics
Nationwide, 28,095 businesses in the "All Other Miscellaneous Schools and Instruction" industry received a total of $1.51B 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 9 employees, 95% lower than Management Concepts, Inc's reported 190 employees, and received an average PPP loan of $53,666, 99% lower than this company's loan of $3.7M.
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. Estimations for informational purposes only. 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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