PPP Loan Data — Select Education Group, LLC, Modesto, CA
Select Education Group, LLC is a limited liability company (LLC) located at 5601 Stoddard Road in Modesto, California that received a Coronavirus-related PPP loan from the SBA of $2,465,759.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Bank of the Lake
Select Education Group, LLC in Modesto, CA received a Paycheck Protection Loan of $2.47M through First Bank of the Lake, 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, Select Education Group, LLC's 2019 payroll expenses are estimated to be at least $11.84M.
Based on their reported 242 jobs retained, this equals an estimated average yearly compensation of $48,908 per employee1
Reported PPP Proceed Usage:
On the PPP application, Select Education Group, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,465,759
Business Information - Select Education Group, LLC in Modesto, CA
5601 Stoddard Road
Modesto, CA 95356
Other Technical and Trade Schools
NAICS code 611519
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Modesto
In the Modesto area, 5 businesses in the "Other Technical and Trade Schools" industry received a PPP loan. These local businesses reported an average of 56 employees (compared to this company's 242) and received an average PPP loan of $532,062 (compared to this company's $2.47M).
Similar Nearby Businesses Who Received PPP Funding:
Stellar Career College LLC
Sonya's Fitness Solutions Inc
Andrya M Lopez DBA Spirit Transformation
Industry PPP Comparison Statistics
Nationwide, 5,180 businesses in the "Other Technical and Trade Schools" industry received a total of $425.39M 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 10 employees, 96% lower than Select Education Group, LLC's reported 242 employees, and received an average PPP loan of $82,122, 97% lower than this company's loan of $2.47M.
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Footnotes & Information
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