ST. Andrew's Episcopal School, Inc in Potomac, MD - SBA PPP Loan Data (Paycheck Protection Program)

PPP Loan Data — ST. Andrew's Episcopal School, Inc, Potomac, MD

MD Nonprofit Organization

ST. Andrew's Episcopal School, Inc

Entity: Non-profit Organization

Industry: Elementary and Secondary Schools

Location: Potomac, MD

ST. Andrew's Episcopal School, Inc is a non-profit organization located at 8804 Postoak Road in Potomac, Maryland that received a Coronavirus-related PPP loan from the SBA of $2,787,318.00 in April, 2020.

$ PPP Loan Information
Loan #9588497100

Loan Size:

$2.79M

Jobs Retained:

157

Loan Approved:

2020-04-15

Loan Status:

Ongoing Loan

Lender:

Sandy Spring Bank

ST. Andrew's Episcopal School, Inc in Potomac, MD received a Paycheck Protection Loan of $2.79M through Sandy Spring Bank, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

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.

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.

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, ST. Andrew's Episcopal School, Inc's 2019 payroll expenses are estimated to be at least $13.38M.

Based on their reported 157 jobs retained, this equals an estimated average yearly compensation of $85,217 per employee¹

Reported PPP Proceed Usage:

On the PPP application, ST. Andrew's Episcopal School, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

Payroll: $2,090,489
Utilities: $696,830

Because the loan received by ST. Andrew's Episcopal School, Inc 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 - ST. Andrew's Episcopal School, Inc in Potomac, MD

ST. Andrew's Episcopal School, Inc
8804 Postoak Road
Potomac, MD 20854

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: N

HUBZone: N

Rural / Urban: Urban

Montgomery County, MD — SBA Office 0353 — Congressional District: MD-06

Similar Companies near Potomac

In the Potomac area, 21 businesses in the "Elementary and Secondary Schools" industry received a PPP loan. These local businesses reported an average of 84 employees (compared to this company's 157) and received an average PPP loan of $984,798 (compared to this company's $2.79M).

Similar Nearby Businesses Who Received PPP Funding:

Connelly School Of The Holy Child
Potomac, MD

$1.32M PPP Loan

German International School Of Washington DC
Potomac, MD

$1.49M PPP Loan

Inclusion Education Services Inc
Rockville, MD

$20,958 PPP Loan

Geneva Presbyterian Church
Potomac, MD

$301,412 PPP Loan

WJG LLC
Potomac, MD

$68,287 PPP Loan

Melvin J. Berman Hebrew Academy
Rockville, MD

$1.84M PPP Loan

Norbeck Montessori Day School Inc
Rockville, MD

$178,388 PPP Loan

Muslim Community School Inc
Potomac, MD

$87,917 PPP Loan

The Manor Montessori School
Potomac, MD

$502,100 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 22,283 businesses in the "Elementary and Secondary Schools" industry received a total of $7.29B 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 39 employees, 75% lower than ST. Andrew's Episcopal School, Inc's reported 157 employees, and received an average PPP loan of $326,980, 88% lower than this company's loan of $2.79M.

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.

Search FederalPay's Full PPP Loan Database

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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