PPP Loan Data — Optical Society Of America Incorporated, The, Washington, DC
Optical Society Of America Incorporated, The is a non-profit organization located at 2010 Massachusetts Ave Nw in Washington, District of Columbia that received a Coronavirus-related PPP loan from the SBA of $3,250,745.00 in May, 2020.
$ PPP Loan Information
Lender:BANK OF AMERICA, NATIONAL ASSOCIATION
Optical Society Of America Incorporated, The received a Paycheck Protection Loan of $3.25M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in May, 2020.
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 154 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.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 156.
Based on standard PPP eligibility rules, Optical Society Of America Incorporated, The's total 2019 payroll expenses were approximately $15.6M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 154 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Optical Society Of America Incorporated, The in Washington, DC
2010 Massachusetts Ave Nw
Washington, DC 20036
Professional Organizations (NAICS code 813920)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: DC-
Similar Companies near Washington
In the Washington area, 38 businesses in the "Professional Organizations" industry received a PPP loan. These local businesses reported an average of 24 employees (compared to this company's 154) and received an average PPP loan of $508,220 (compared to this company's $3.25M).
Similar Nearby Businesses Who Received PPP Funding:
Silver Mirror Dupont Circle LLC
District Dental Group Of DC PLLC
National Forum For Heart Disease And Stroke Prevention Inc
American Council On Education
The National Press Foundation, Inc.
Association Of Small Foundations
Verto Solutions, LLC
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Industry PPP Comparison Statistics
Nationwide, 5,854 businesses in the "Professional Organizations" industry received a total of $547,492,722.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 7 employees, 95% lower than Optical Society Of America Incorporated, The's reported 154 employees, and received an average PPP loan of $93,525, 97% lower than this company's loan of $3.25M.
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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