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PPP Loan Data — Playhouse Square Foundation,
Cleveland, OH
Playhouse Square Foundation
Entity: Non-profit Organization
Industry: Promoters of Performing Arts, Sports, and Similar Events with Facilities
Location: Cleveland, OH
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Playhouse Square Foundation is a non-profit organization located at 1501 Euclid Ave Ste 200 in Cleveland, Ohio that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in April, 2021.
$
PPP Loan Information
Loan #1528598910
Loan Size:
Jobs Retained:
246Loan Approved:
2021-04-26Loan Status:
Paid in Full or ForgivenLender:
KeyBank National AssociationPlayhouse Square Foundation in Cleveland, OH received a Paycheck Protection Loan of $2M through KeyBank National Association, which was approved in April, 2021.
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, 2022.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Playhouse Square Foundation's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 246 jobs retained, this equals an estimated average yearly compensation of $39,024 per employee1
Reported PPP Proceed Usage:
On the PPP application, Playhouse Square Foundation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,995
- Utilities: $1
Business Information - Playhouse Square Foundation in Cleveland, OH
1501 Euclid Ave Ste 200
Cleveland, OH 44115
Business Industry:
Promoters of Performing Arts, Sports, and Similar Events with Facilities
NAICS code 711310
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Cleveland
In the Cleveland area, 13 businesses in the "Promoters of Performing Arts, Sports, and Similar Events with Facilities" industry received a PPP loan. These local businesses reported an average of 26 employees (compared to this company's 246) and received an average PPP loan of $265,605 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Hughie's Audio Visual Service Inc
Cleveland, OH
Great Lakes Theater Festival Inc
Cleveland, OH
Jettie Lee Jr
Cleveland, OH
TRU Lyfe Entertainment LLC
Cleveland, OH
Nikya Vaughn
Cleveland, OH
Cleveland Festival Of Art And Technology
Cleveland, OH
Christopher Horne
Rocky River, OH
Celairia Henderson
Cleveland, OH
Industry PPP Comparison Statistics
Nationwide, 15,381 businesses in the "Promoters of Performing Arts, Sports, and Similar Events with Facilities" industry received a total of $779.11M 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 7 employees, 97% lower than Playhouse Square Foundation's reported 246 employees, and received an average PPP loan of $50,654, 97% lower than this company's loan of $2M.
Playhouse Square Foundation
Entity: Non-profit Organization
Industry: Theater Companies and Dinner Theaters
Location: Cleveland, OH
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Playhouse Square Foundation is a non-profit organization located at 1501 Euclid Ave Suite 200 in Cleveland, Ohio that received a Coronavirus-related PPP loan from the SBA of $4,242,800.00 in April, 2020.
$
PPP Loan Information
Loan #5389887000
Loan Size:
Jobs Retained:
495Loan Approved:
2020-04-05Loan Status:
Paid in Full or ForgivenLender:
KeyBank National AssociationPlayhouse Square Foundation in Cleveland, OH received a Paycheck Protection Loan of $4.24M through KeyBank National Association, 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 September, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Playhouse Square Foundation's 2019 payroll expenses are estimated to be at least $20.37M.
Based on their reported 495 jobs retained, this equals an estimated average yearly compensation of $41,142 per employee1
Reported PPP Proceed Usage:
On the PPP application, Playhouse Square Foundation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,242,800
Business Information - Playhouse Square Foundation in Cleveland, OH
1501 Euclid Ave Suite 200
Cleveland, OH 44115
Business Industry:
Theater Companies and Dinner Theaters
NAICS code 711110
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Cleveland
In the Cleveland area, 5 businesses in the "Theater Companies and Dinner Theaters" industry received a PPP loan. These local businesses reported an average of 151 employees (compared to this company's 495) and received an average PPP loan of $1,380,590 (compared to this company's $4.24M).
Similar Nearby Businesses Who Received PPP Funding:
Hilarities Comedy Club LTD
Cleveland, OH
Great Lakes Theater Festival Inc
Cleveland, OH
The Cleveland Play House
Cleveland, OH
Industry PPP Comparison Statistics
Nationwide, 6,551 businesses in the "Theater Companies and Dinner Theaters" industry received a total of $648.74M 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 16 employees, 97% lower than Playhouse Square Foundation's reported 495 employees, and received an average PPP loan of $99,029, 98% lower than this company's loan of $4.24M.
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. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. 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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