PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — New Horizons Academy, West Des Moines, IA

ALERT: There are 2 PPP loans for a total of $91,664 in our database for businesses with the name "New Horizons Academy" in West Des Moines, IA. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for New Horizons Academy
IA

New Horizons Academy

Entity: Professional Association

Industry: Child Day Care Services

Location: West Des Moines, IA

Search All PPP Data

New Horizons Academy is a professional association located at 1119 5th St in West Des Moines, Iowa that received a Coronavirus-related PPP loan from the SBA of $49,010.00 in January, 2021.

The company has reported itself as a male owned business, and employed at least thirteen people during the applicable loan loan period.

$ PPP Loan Information
Loan #9629828303

Loan Size:

$49,010

Jobs Retained:

13

Loan Approved:

2021-01-31

Loan Status:

Paid in Full or Forgiven

Lender:

South Story Bank & Trust

New Horizons Academy in West Des Moines, IA received a Paycheck Protection Loan of $49,010 through South Story Bank & Trust, 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 October, 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 More
Understanding 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 More

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, New Horizons Academy's 2019 payroll expenses are estimated to be at least $235,248.

Based on their reported 13 jobs retained, this equals an estimated average yearly compensation of $18,096 per employee1

Reported PPP Proceed Usage:

On the PPP application, New Horizons Academy reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $49,003
  • Utilities: $1

Business Information - New Horizons Academy in West Des Moines, IA

New Horizons Academy
1119 5th St
West Des Moines, IA 50265

Business Industry:
Child Day Care Services
NAICS code 624410

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: N

Rural / Urban: Urban

Polk County, IA — SBA Office 0761 — Congressional District: IA-03

Similar Companies near West Des Moines

In the West Des Moines area, 46 businesses in the "Child Day Care Services" industry received a PPP loan. These local businesses reported an average of 15 employees (compared to this company's 13) and received an average PPP loan of $71,369 (compared to this company's $49,010).

Industry PPP Comparison Statistics

Nationwide, 128,982 businesses in the "Child Day Care Services" industry received a total of $5.47B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 8 employees, 38% lower than New Horizons Academy's reported 13 employees, and received an average PPP loan of $42,417, 13% lower than this company's loan of $49,010.

SBA PPP loan data, payroll data, and salaries for New Horizons Academy
IA

New Horizons Academy

Entity: Professional Association

Industry: Child Day Care Services

Location: West Des Moines, IA

Search All PPP Data

New Horizons Academy is a professional association located at 1119 5th Street in West Des Moines, Iowa that received a Coronavirus-related PPP loan from the SBA of $42,654.00 in April, 2020.

$ PPP Loan Information
Loan #6699937002

Loan Size:

$42,654

Jobs Retained:

16

Loan Approved:

2020-04-07

Loan Status:

Paid in Full or Forgiven

Lender:

South Story Bank & Trust

New Horizons Academy in West Des Moines, IA received a Paycheck Protection Loan of $42,654 through South Story Bank & Trust, 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 March, 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 More
Understanding 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 More

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, New Horizons Academy's 2019 payroll expenses are estimated to be at least $204,739.

Based on their reported 16 jobs retained, this equals an estimated average yearly compensation of $12,796 per employee1

Reported PPP Proceed Usage:

On the PPP application, New Horizons Academy reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $42,654

Business Information - New Horizons Academy in West Des Moines, IA

New Horizons Academy
1119 5th Street
West Des Moines, IA 50265

Business Industry:
Child Day Care Services
NAICS code 624410

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: Y

Rural / Urban: Urban

Polk County, IA — SBA Office 0761 — Congressional District: IA-03

Similar Companies near West Des Moines

In the West Des Moines area, 46 businesses in the "Child Day Care Services" industry received a PPP loan. These local businesses reported an average of 15 employees (compared to this company's 16) and received an average PPP loan of $71,369 (compared to this company's $42,654).

Industry PPP Comparison Statistics

Nationwide, 128,982 businesses in the "Child Day Care Services" industry received a total of $5.47B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 8 employees, 50% lower than New Horizons Academy's reported 16 employees, and received an average PPP loan of $42,417, 1% lower than this company's loan of $42,654.

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.

Search FederalPay's Full PPP Loan Database

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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Source: www.federalpay.org/paycheck-protection-program/new-horizons-academy-west-des-moines-ia