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PPP Loan Data — Public Prep Charter School Academies, Bronx, NY

SBA PPP loan data, payroll data, and salaries for Public Prep Charter School Academies
NY Nonprofit Organization

Public Prep Charter School Academies

Entity: Non-profit Organization

Industry: Elementary and Secondary Schools

Location: Bronx, NY

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Public Prep Charter School Academies is a non-profit organization located at 192 E 151st St in Bronx, New York that received a Coronavirus-related PPP loan from the SBA of $4,301,000.00 in April, 2020.

$ PPP Loan Information
Loan #7941677109

Loan Size:

$4.3M

Jobs Retained:

308

Loan Approved:

2020-04-14

Loan Status:

Paid in Full or Forgiven

Lender:

CRF Small Business Loan Company, LLC

Public Prep Charter School Academies in Bronx, NY received a Paycheck Protection Loan of $4.3M through CRF Small Business Loan Company, LLC, 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 June, 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 More
Understanding 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 More

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, Public Prep Charter School Academies' 2019 payroll expenses are estimated to be at least $20.64M.

Based on their reported 308 jobs retained, this equals an estimated average yearly compensation of $67,029 per employee1

Reported PPP Proceed Usage:

On the PPP application, Public Prep Charter School Academies reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $4,301,000
Because the loan received by Public Prep Charter School Academies 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 - Public Prep Charter School Academies in Bronx, NY

Public Prep Charter School Academies
192 E 151st St
Bronx, NY 10451

Business Industry:
Elementary and Secondary Schools
NAICS code 611110

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

Bronx County, NY — SBA Office 0202 — Congressional District: NY-15

Businesses Using Same Address:

There is one other business that received a PPP loan registered to the same address as Public Prep Charter School Academies.

Public Preparatory Network
Elementary and Secondary Schools

$567,500 PPP Loan

Similar Companies near Bronx

In the Bronx area, 14 businesses in the "Elementary and Secondary Schools" industry received a PPP loan. These local businesses reported an average of 90 employees (compared to this company's 308) and received an average PPP loan of $1,119,655 (compared to this company's $4.3M).

Industry PPP Comparison Statistics

Nationwide, 22,634 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, 88% lower than Public Prep Charter School Academies' reported 308 employees, and received an average PPP loan of $324,581, 92% lower than this company's loan of $4.3M.

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.

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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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Source: www.federalpay.org/paycheck-protection-program/public-prep-charter-school-academies-bronx-ny