PPP Loan Data — The Chronicle Of Higher Education, Washington, DC
The Chronicle Of Higher Education is a corporation located at 1255 23rd St Nw Ste 700 in Washington, District of Columbia that received a Coronavirus-related PPP loan from the SBA of $3,706,271.00 in April, 2020.
$ PPP Loan Information
Lender:TRUIST BANK D/B/A BRANCH BANKING & TRUST CO
The Chronicle Of Higher Education received a Paycheck Protection Loan of $3.71M through TRUIST BANK D/B/A BRANCH BANKING & TRUST CO, which was approved in April, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 163 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 178.
Based on standard PPP eligibility rules, The Chronicle Of Higher Education's total 2019 payroll expenses were approximately $17.79M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 163 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - The Chronicle Of Higher Education in Washington, DC
1255 23rd St Nw Ste 700
Washington, DC 20037
Newspaper Publishers (NAICS code 511110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: DC-
Industry PPP Comparison Statistics
Nationwide, 2,840 businesses in the "Newspaper Publishers" industry received a total of $401,663,111.00 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 14 employees, 91% lower than The Chronicle Of Higher Education's reported 163 employees, and received an average PPP loan of $141,431, 96% lower than this company's loan of $3.71M.
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Footnotes & Information
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