PPP Loan Data — Moore College Of Art And Design, Philadelphia, PA
Moore College Of Art And Design is a non-profit organization located at 20th Street And The Parkway in Philadelphia, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $1,560,800.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:PNC Bank, National Association
Moore College Of Art And Design in Philadelphia, PA received a Paycheck Protection Loan of $1.56M through PNC Bank, National Association, 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 June, 2021.
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, Moore College Of Art And Design's 2019 payroll expenses are estimated to be at least $7.49M.
Based on their reported 258 jobs retained, this equals an estimated average yearly compensation of $29,038 per employee1
Reported PPP Proceed Usage:
On the PPP application, Moore College Of Art And Design reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,560,800
Business Information - Moore College Of Art And Design in Philadelphia, PA
20th Street And The Parkway
Philadelphia, PA 19103
Colleges, Universities, and Professional Schools
NAICS code 611310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Philadelphia
In the Philadelphia area, 7 businesses in the "Colleges, Universities, and Professional Schools" industry received a PPP loan. These local businesses reported an average of 87 employees (compared to this company's 258) and received an average PPP loan of $930,895 (compared to this company's $1.56M).
Similar Nearby Businesses Who Received PPP Funding:
Handz University LLC
Pennsylvania Academy Of The Fine Arts
Walnut Hill College Inc
Pennsylvania Academy Of Fine Arts
Industry PPP Comparison Statistics
Nationwide, 3,280 businesses in the "Colleges, Universities, and Professional Schools" industry received a total of $2.08B 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 76 employees, 71% lower than Moore College Of Art And Design's reported 258 employees, and received an average PPP loan of $633,118, 59% lower than this company's loan of $1.56M.
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Footnotes & Information
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