PPP Loan Data — Oak Grove Christian Academy, Colonial Beach, VA
Oak Grove Christian Academy is a non-profit organization located at 8096 Leedstown Rd. in Colonial Beach, Virginia that received a Coronavirus-related PPP loan from the SBA of $46,700.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Atlantic Union Bank
Oak Grove Christian Academy in Colonial Beach, VA received a Paycheck Protection Loan of $46,700 through Atlantic Union Bank, 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 February, 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, Oak Grove Christian Academy's 2019 payroll expenses are estimated to be at least $224,160.
Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $22,416 per employee1
Reported PPP Proceed Usage:
On the PPP application, Oak Grove Christian Academy reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,700
Business Information - Oak Grove Christian Academy in Colonial Beach, VA
8096 Leedstown Rd.
Colonial Beach, VA 22443
All Other Miscellaneous Schools and Instruction
NAICS code 611699
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Colonial Beach
In the Colonial Beach area, 2 businesses in the "All Other Miscellaneous Schools and Instruction" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 10) and received an average PPP loan of $41,500 (compared to this company's $46,700).
Similar Nearby Businesses Who Received PPP Funding:
First Class Educational Services, Inc
Colonial Beach, VA
Industry PPP Comparison Statistics
Nationwide, 28,242 businesses in the "All Other Miscellaneous Schools and Instruction" industry received a total of $1.52B 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 9 employees, 10% lower than Oak Grove Christian Academy's reported 10 employees, and received an average PPP loan of $53,678, 15% higher than this company's loan of $46,700.
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Footnotes & Information
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