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PPP Loan Data — Mind Research Institute, Irvine, CA

SBA PPP loan data, payroll data, and salaries for Mind Research Institute
CA Nonprofit Organization

Mind Research Institute

Entity: Non-profit Organization

Industry: Educational Support Services

Location: Irvine, CA

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Mind Research Institute is a non-profit organization located at 5281 California Ave in Irvine, California that received a Coronavirus-related PPP loan from the SBA of $3,456,100.00 in April, 2020.

The company has reported itself as a White male owned non-profit, and employed at least 168 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$3.46M

Jobs Retained:

168

Loan Approved:

2020-04-03

Lender:

COMMERCIAL BANK OF CALIFORNIA

Mind Research Institute in Irvine, CA received a Paycheck Protection Loan of $3.46M through COMMERCIAL BANK OF CALIFORNIA, which was approved in April, 2020.

Based on standard PPP eligibility rules, Mind Research Institute's total 2019 payroll expenses were approximately $16.59M in order to qualify for the PPP loan amount received.

Based on their reported 168 jobs retained, this equals an estimated average yearly compensation of $98,746 per employee1.

Because the loan received by Mind Research Institute 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 - Mind Research Institute in Irvine, CA

Mind Research Institute
5281 California Ave
Irvine, CA 92617

Business Industry

Educational Support Services (NAICS code 611710)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: CA-45

Similar Companies near Irvine

In the Irvine area, 11 businesses in the "Educational Support Services" industry received a PPP loan. These local businesses reported an average of 22 employees (compared to this company's 168) and received an average PPP loan of $392,585 (compared to this company's $3.46M).

Industry PPP Comparison Statistics

Nationwide, 14,366 businesses in the "Educational Support Services" industry received a total of $1,365,122,225.00 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 9 employees, 95% lower than Mind Research Institute's reported 168 employees, and received an average PPP loan of $95,025, 97% lower than this company's loan of $3.46M.

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, 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/mind-research-institute-irvine-ca