PPP Loan Data — Simpson University Inc, Redding, CA
Simpson University Inc is a non-profit organization located at 2211 College View Drive in Redding, California that received a Coronavirus-related PPP loan from the SBA of $1,981,800.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Merchants Bank of Commerce
Simpson University Inc in Redding, CA received a Paycheck Protection Loan of $1.98M through Merchants Bank of Commerce, 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, Simpson University Inc's 2019 payroll expenses are estimated to be at least $9.51M.
Based on their reported 338 jobs retained, this equals an estimated average yearly compensation of $28,144 per employee1
Reported PPP Proceed Usage:
On the PPP application, Simpson University Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,981,800
Business Information - Simpson University Inc in Redding, CA
2211 College View Drive
Redding, CA 96003
Colleges, Universities, and Professional Schools
NAICS code 611310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Redding
In the Redding area, 4 businesses in the "Colleges, Universities, and Professional Schools" industry received a PPP loan. These local businesses reported an average of 153 employees (compared to this company's 338) and received an average PPP loan of $1,065,443 (compared to this company's $1.98M).
Similar Nearby Businesses Who Received PPP Funding:
Shasta Bible College And Graduate School
Bethel School Of Technology
Industry PPP Comparison Statistics
Nationwide, 3,280 businesses in the "Colleges, Universities, and Professional Schools" industry received a total of $2.08B 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 76 employees, 78% lower than Simpson University Inc's reported 338 employees, and received an average PPP loan of $633,118, 68% lower than this company's loan of $1.98M.
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Footnotes & Information
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