PPP Loan Data — Palm Beach Day Academy Inc, Palm Beach, FL
Palm Beach Day Academy Inc is a non-profit organization located at 241 Seaview Avenue in Palm Beach, Florida that received a Coronavirus-related PPP loan from the SBA of $1,534,716.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Wells Fargo Bank, National Association
Palm Beach Day Academy Inc in Palm Beach, FL received a Paycheck Protection Loan of $1.53M through Wells Fargo Bank, National Association, which was approved in May, 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, Palm Beach Day Academy Inc's 2019 payroll expenses are estimated to be at least $7.37M.
Based on their reported 103 jobs retained, this equals an estimated average yearly compensation of $71,521 per employee1
Reported PPP Proceed Usage:
On the PPP application, Palm Beach Day Academy Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,534,716
Business Information - Palm Beach Day Academy Inc in Palm Beach, FL
241 Seaview Avenue
Palm Beach, FL 33480
Elementary and Secondary Schools
NAICS code 611110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Palm Beach
In the Palm Beach area, 2 businesses in the "Elementary and Secondary Schools" industry received a PPP loan. These local businesses reported an average of 60 employees (compared to this company's 103) and received an average PPP loan of $924,753 (compared to this company's $1.53M).
Similar Nearby Businesses Who Received PPP Funding:
Rehabilitation Center For Children
Palm Beach, FL
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, 63% lower than Palm Beach Day Academy Inc's reported 103 employees, and received an average PPP loan of $323,643, 79% lower than this company's loan of $1.53M.
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Footnotes & Information
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