PPP Loan Data — The Boston Architectural College, Boston, MA
The Boston Architectural College is a non-profit organization located at 320 Newbury St in Boston, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $1,901,500.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Century Bank and Trust Company
The Boston Architectural College in Boston, MA received a Paycheck Protection Loan of $1.9M through Century Bank and Trust Company, 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, The Boston Architectural College's 2019 payroll expenses are estimated to be at least $9.13M.
Based on their reported 145 jobs retained, this equals an estimated average yearly compensation of $62,946 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Boston Architectural College reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,901,500
Business Information - The Boston Architectural College in Boston, MA
320 Newbury St
Boston, MA 2115
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 Boston
In the Boston area, 3 businesses in the "Colleges, Universities, and Professional Schools" industry received a PPP loan. These local businesses reported an average of 177 employees (compared to this company's 145) and received an average PPP loan of $1,938,106 (compared to this company's $1.9M).
Similar Nearby Businesses Who Received PPP Funding:
Bay State College Inc
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, 48% lower than The Boston Architectural College's reported 145 employees, and received an average PPP loan of $633,118, 67% lower than this company's loan of $1.9M.
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Footnotes & Information
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