PPP Loan Data — The Culver Academy, Kennesaw, GA
The Culver Academy is a limited liability company (LLC) located at 5215 Stilesboro Road Northwest in Kennesaw, Georgia that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Cross River Bank
The Culver Academy in Kennesaw, GA received a Paycheck Protection Loan of $25,000 through Cross River Bank, which was approved in May, 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 Culver Academy's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 12 jobs retained, this equals an estimated average yearly compensation of $10,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Culver Academy reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - The Culver Academy in Kennesaw, GA
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
PPP recipients in this industry report an average of 0 employees, 100% lower than The Culver Academy's reported 12 employees, and received an average PPP loan of $0, 100% lower than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
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