PPP Loan Data — Red Hill Montessori, LLC, Tustin, CA
Red Hill Montessori, LLC is a limited liability company (LLC) located at 13806 Red Hill Ave in Tustin, California that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
The company has reported itself as an Asian female owned business, and employed at least nine people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Mortgage Capital Development Corporation
Red Hill Montessori, LLC in Tustin, CA received a Paycheck Protection Loan of $25,000 through Mortgage Capital Development Corporation, which was approved in May, 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 May, 2021.
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, Red Hill Montessori, LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 9 jobs retained, this equals an estimated average yearly compensation of $13,333 per employee1
Reported PPP Proceed Usage:
On the PPP application, Red Hill Montessori, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Red Hill Montessori, LLC in Tustin, CA
13806 Red Hill Ave
Tustin, CA 92780
Child Day Care Services
NAICS code 624410
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Tustin
In the Tustin area, 28 businesses in the "Child Day Care Services" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 9) and received an average PPP loan of $29,458 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Jeremy B Welch
Algama Dona & Don
Karen Ann Kohler
Koguma Yonchien Inc
Tustin Community Preschool Inc
Industry PPP Comparison Statistics
Nationwide, 132,794 businesses in the "Child Day Care Services" industry received a total of $5.53B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 8 employees, 11% lower than Red Hill Montessori, LLC's reported 9 employees, and received an average PPP loan of $41,676, 67% higher than this company's loan of $25,000.
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Footnotes & Information
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