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PPP Loan Data — Mind Research Institute,
Irvine, CA
Mind Research Institute
Entity: Non-profit Organization
Industry: Research and Development in the Social Sciences and Humanities
Location: Irvine, CA
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Mind Research Institute is a non-profit organization located at 5281 California Ave Ste 300 in Irvine, California that received a Coronavirus-related PPP loan from the SBA of $1,995,000.00 in January, 2021.
The company has reported itself as a female owned non-profit, and employed at least 156 people during the applicable loan loan period.
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PPP Loan Information
Loan #8570088306
Loan Size:
Jobs Retained:
156Loan Approved:
2021-01-29Loan Status:
Paid in Full or ForgivenLender:
Farmers & Merchants Bank of Long BeachMind Research Institute in Irvine, CA received a Paycheck Protection Loan of $2M through Farmers & Merchants Bank of Long Beach, 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 September, 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, Mind Research Institute's 2019 payroll expenses are estimated to be at least $9.58M.
Based on their reported 156 jobs retained, this equals an estimated average yearly compensation of $61,385 per employee1
Reported PPP Proceed Usage:
On the PPP application, Mind Research Institute reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,994,996
- Utilities: $1
Business Information - Mind Research Institute in Irvine, CA
5281 California Ave Ste 300
Irvine, CA 92617
Business Industry:
Research and Development in the Social Sciences and Humanities
NAICS code 541720
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Irvine
In the Irvine area, 4 businesses in the "Research and Development in the Social Sciences and Humanities" industry received a PPP loan. These local businesses reported an average of 53 employees (compared to this company's 156) and received an average PPP loan of $741,895 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Imedical Research
Irvine, CA
Clindatrix
Irvine, CA
Enterey Inc
Irvine, CA
Industry PPP Comparison Statistics
Nationwide, 2,670 businesses in the "Research and Development in the Social Sciences and Humanities" industry received a total of $409.46M 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 13 employees, 92% lower than Mind Research Institute's reported 156 employees, and received an average PPP loan of $153,357, 92% lower than this company's loan of $2M.
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 Suite 300 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 male owned non-profit, and employed at least 168 people during the applicable loan loan period.
$
PPP Loan Information
Loan #4384107007
Loan Size:
Jobs Retained:
168Loan Approved:
2020-04-03Loan Status:
Paid in Full or ForgivenLender:
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.
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, Mind Research Institute's 2019 payroll expenses are estimated to be at least $16.59M.
Based on their reported 168 jobs retained, this equals an estimated average yearly compensation of $98,746 per employee1
Reported PPP Proceed Usage:
On the PPP application, Mind Research Institute reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,129,100
- Utilities: $25,000
- Rent: $272,000
- Debt Interest: $30,000
Business Information - Mind Research Institute in Irvine, CA
5281 California Ave Suite 300
Irvine, CA 92617
Business Industry:
Educational Support Services
NAICS code 611710
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Irvine
In the Irvine area, 21 businesses in the "Educational Support Services" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 168) and received an average PPP loan of $263,961 (compared to this company's $3.46M).
Similar Nearby Businesses Who Received PPP Funding:
Euclid Education, Inc
Irvine, CA
Sena Development Group LLC
Irvine, CA
Educational Technology And Life DBA Edtechteam
Irvine, CA
Mentorx Corporation
Irvine, CA
Mohamad Youssef
Irvine, CA
Dipankar Ghosh
Irvine, CA
Ruslan Makhmudov
Irvine, CA
The College Blueprint LLC
Irvine, CA
Industry PPP Comparison Statistics
Nationwide, 38,234 businesses in the "Educational Support Services" industry received a total of $2.32B 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 7 employees, 96% lower than Mind Research Institute's reported 168 employees, and received an average PPP loan of $60,644, 98% 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, 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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