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PPP Loan Data — Mind Research Institute,
Irvine, CA
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:
Jobs Retained:
168Loan Approved:
2020-04-03Lender:
COMMERCIAL BANK OF CALIFORNIAMind 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.
Business Information - Mind Research Institute in Irvine, CA
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-45Similar 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).
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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.
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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