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PPP Loan Data — Plato Academy Schools Corporation, Clearwater, FL

SBA PPP loan data, payroll data, and salaries for Plato Academy Schools Corporation
FL Nonprofit Organization

Plato Academy Schools Corporation

Entity: Non-profit Organization

Industry: Elementary and Secondary Schools

Location: Clearwater, FL

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Plato Academy Schools Corporation is a non-profit organization located at 2045 Palmetto Street in Clearwater, Florida that received a Coronavirus-related PPP loan from the SBA of $2,949,925.00 in May, 2020.

The company has reported itself as a female owned non-profit, and employed at least 387 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$2.95M

Jobs Retained:

387

Loan Approved:

2020-05-07

Lender:

VALLEY NATIONAL BANK

Plato Academy Schools Corporation received a Paycheck Protection Loan of $2.95M through VALLEY NATIONAL BANK, which was approved in May, 2020.

Based on standard PPP eligibility rules, Plato Academy Schools Corporation's total 2019 payroll expenses were approximately $14.16M in order to qualify for the PPP loan amount received.

Based on their reported 387 jobs retained, this equals an estimated average yearly compensation of $36,588 per employee1.

Because the loan received by Plato Academy Schools Corporation 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 - Plato Academy Schools Corporation in Clearwater, FL

Plato Academy Schools Corporation
2045 Palmetto Street
Clearwater, FL 33765

Business Industry

Elementary and Secondary Schools (NAICS code 611110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: FEMALE OWNED

Veteran Status: Unreported

Congressional District: FL-13

Similar Companies near Clearwater

In the Clearwater area, 5 businesses in the "Elementary and Secondary Schools" industry received a PPP loan. These local businesses reported an average of 109 employees (compared to this company's 387) and received an average PPP loan of $916,016 (compared to this company's $2.95M).

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, 90% lower than Plato Academy Schools Corporation's reported 387 employees, and received an average PPP loan of $379,166, 87% lower than this company's loan of $2.95M.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) 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/plato-academy-schools-corporation-clearwater-fl