PPP Loan Data — Oakland Military Institute, College Preparatory Academy, Oakland, CA
Oakland Military Institute, College Preparatory Academy is a non-profit organization located at 3877 Lusk St in Oakland, California that received a Coronavirus-related PPP loan from the SBA of $1,879,000.00 in April, 2020.
The company has reported itself as a male owned non-profit, and employed at least 77 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Western Alliance Bank
Oakland Military Institute, College Preparatory Academy in Oakland, CA received a Paycheck Protection Loan of $1.88M through Western Alliance 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 June, 2021.The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 77 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 90. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Oakland Military Institute, College Preparatory Academy's 2019 payroll expenses are estimated to be at least $9.02M (not accounting for salary amounts > $100k).
Because the 77 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Oakland Military Institute, College Preparatory Academy reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,879,000
Business Information - Oakland Military Institute, College Preparatory Academy in Oakland, CA
3877 Lusk St
Oakland, CA 94608
Elementary and Secondary Schools
NAICS code 611110
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Oakland
In the Oakland area, 13 businesses in the "Elementary and Secondary Schools" industry received a PPP loan. These local businesses reported an average of 63 employees (compared to this company's 77) and received an average PPP loan of $856,354 (compared to this company's $1.88M).
Similar Nearby Businesses Who Received PPP Funding:
Leadership Public Schools, Inc
Sobrato Early Academic Language Program
American Indian Model Schools
Envision Education Inc
North Oakland Community Charter School
Building On The Best
East Bay German International School
Partners In Oakland Education
Industry PPP Comparison Statistics
Nationwide, 22,714 businesses in the "Elementary and Secondary Schools" industry received a total of $7.35B 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 38 employees, 51% lower than Oakland Military Institute, College Preparatory Academy's reported 77 employees, and received an average PPP loan of $323,643, 83% lower than this company's loan of $1.88M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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