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PPP Loan Data — REX And Margaret Fortune School Of Education, Sacramento, CA

SBA PPP loan data, payroll data, and salaries for REX And Margaret Fortune School Of Education
CA Nonprofit Organization

REX And Margaret Fortune School Of Education

Entity: Non-profit Organization

Industry: Educational Support Services

Location: Sacramento, CA

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REX And Margaret Fortune School Of Education is a non-profit organization located at 2890 Gateway Oaks Dr in Sacramento, California that received a Coronavirus-related PPP loan from the SBA of $2,670,100.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.67M

Jobs Retained:

258

Loan Approved:

2020-04-14

Lender:

UMPQUA BANK

REX And Margaret Fortune School Of Education in Sacramento, CA received a Paycheck Protection Loan of $2.67M through UMPQUA BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, REX And Margaret Fortune School Of Education's total 2019 payroll expenses were approximately $12.82M in order to qualify for the PPP loan amount received.

Based on their reported 258 jobs retained, this equals an estimated average yearly compensation of $49,676 per employee1.

Because the loan received by REX And Margaret Fortune School Of Education 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 - REX And Margaret Fortune School Of Education in Sacramento, CA

REX And Margaret Fortune School Of Education
2890 Gateway Oaks Dr
Sacramento, CA 95833

Business Industry

Educational Support Services (NAICS code 611710)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: CA-06

Similar Companies near Sacramento

In the Sacramento area, 2 businesses in the "Educational Support Services" industry received a PPP loan. These local businesses reported an average of 135 employees (compared to this company's 258) and received an average PPP loan of $1,535,140 (compared to this company's $2.67M).

Similar Nearby Businesses Who Received PPP Funding:

The Learning Accelerator
Sacramento, CA

$400,179 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 14,366 businesses in the "Educational Support Services" industry received a total of $1,365,122,225.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 9 employees, 97% lower than REX And Margaret Fortune School Of Education's reported 258 employees, and received an average PPP loan of $95,025, 96% lower than this company's loan of $2.67M.

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, 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/rex-and-margaret-fortune-school-of-education-sacramento-ca