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PPP Loan Data — Passaic Arts And Science Charter School, Fair Lawn, NJ

SBA PPP loan data, payroll data, and salaries for Passaic Arts And Science Charter School
NJ Nonprofit Organization

Passaic Arts And Science Charter School

Entity: Non-profit Organization

Industry: Elementary and Secondary Schools

Location: Fair Lawn, NJ

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Passaic Arts And Science Charter School is a non-profit organization located at 33-00 Broadway in Fair Lawn, New Jersey that received a Coronavirus-related PPP loan from the SBA of $3,039,945.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.04M

Jobs Retained:

207

Loan Approved:

2020-04-29

Lender:

SANTANDER BANK, NATIONAL ASSOCIATION

Passaic Arts And Science Charter School in Fair Lawn, NJ received a Paycheck Protection Loan of $3.04M through SANTANDER BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Passaic Arts And Science Charter School's total 2019 payroll expenses were approximately $14.59M in order to qualify for the PPP loan amount received.

Based on their reported 207 jobs retained, this equals an estimated average yearly compensation of $70,491 per employee1.

Because the loan received by Passaic Arts And Science Charter School is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Passaic Arts And Science Charter School in Fair Lawn, NJ

Passaic Arts And Science Charter School
33-00 Broadway
Fair Lawn, NJ 07410

Business Industry

Elementary and Secondary Schools (NAICS code 611110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NJ-05

Similar Companies near Fair Lawn

In the Fair Lawn area, 6 businesses in the "Elementary and Secondary Schools" industry received a PPP loan. These local businesses reported an average of 143 employees (compared to this company's 207) and received an average PPP loan of $1,748,836 (compared to this company's $3.04M).

Industry PPP Comparison Statistics

Nationwide, 15,362 businesses in the "Elementary and Secondary Schools" industry received a total of $5,824,752,723.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 38 employees, 82% lower than Passaic Arts And Science Charter School's reported 207 employees, and received an average PPP loan of $379,166, 88% lower than this company's loan of $3.04M.

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, and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. 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/passaic-arts-and-science-charter-school-fair-lawn-nj