PPP Loan Data — Pomfret School Inc, Pomfret, CT
Pomfret School Inc is a corporation located at 398 Pomfret St in Pomfret, Connecticut that received a Coronavirus-related PPP loan from the SBA of $2,160,500.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Pomfret School Inc in Pomfret, CT received a Paycheck Protection Loan of $2.16M through Hometown Bank, which was approved in April, 2020.
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, Pomfret School Inc's 2019 payroll expenses are estimated to be at least $10.37M.
Based on their reported 160 jobs retained, this equals an estimated average yearly compensation of $64,815 per employee1
Reported PPP Proceed Usage:
On the PPP application, Pomfret School Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,160,500
Business Information - Pomfret School Inc in Pomfret, CT
398 Pomfret St
Pomfret, CT 6258
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: Rural
Similar Companies near Pomfret
In the Pomfret area, 2 businesses in the "Elementary and Secondary Schools" industry received a PPP loan. These local businesses reported an average of 149 employees (compared to this company's 160) and received an average PPP loan of $1,875,000 (compared to this company's $2.16M).
Similar Nearby Businesses Who Received PPP Funding:
Rectory School, Inc
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, 76% lower than Pomfret School Inc's reported 160 employees, and received an average PPP loan of $323,643, 85% lower than this company's loan of $2.16M.
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Footnotes & Information
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