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PPP Loan Data — The Spanish Academy LLC,
Atlanta, GA
The Spanish Academy LLC
Entity: Limited Liability Company (LLC)
Industry: Language Schools
Location: Atlanta, GA
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The Spanish Academy LLC is a limited liability company (LLC) located at 329 Springdale Dr Ne in Atlanta, Georgia that received a Coronavirus-related PPP loan from the SBA of $130,638.00 in January, 2021.
$
PPP Loan Information
Loan #9849708304
Loan Size:
Jobs Retained:
39Loan Approved:
2021-01-31Loan Status:
Ongoing LoanLender:
Touchmark National BankThe Spanish Academy LLC in Atlanta, GA received a Paycheck Protection Loan of $130,638 through Touchmark National Bank, which was approved in January, 2021.
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.
Read MoreUnderstanding 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.
Read MoreBased 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 Spanish Academy LLC's 2019 payroll expenses are estimated to be at least $627,062.
Based on their reported 39 jobs retained, this equals an estimated average yearly compensation of $16,079 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Spanish Academy LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $130,636
- Utilities: $1
Business Information - The Spanish Academy LLC in Atlanta, GA
329 Springdale Dr Ne
Atlanta, GA 30305
Business Industry:
Language Schools
NAICS code 611630
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
Similar Companies near Atlanta
In the Atlanta area, 3 businesses in the "Language Schools" industry received a PPP loan. These local businesses reported an average of 18 employees (compared to this company's 39) and received an average PPP loan of $50,397 (compared to this company's $130,638).
Similar Nearby Businesses Who Received PPP Funding:
Bilingual Children
Atlanta, GA
Chiara Waller
Atlanta, GA
Industry PPP Comparison Statistics
Nationwide, 1,391 businesses in the "Language Schools" industry received a total of $89.81M 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 14 employees, 64% lower than The Spanish Academy LLC's reported 39 employees, and received an average PPP loan of $64,566, 51% lower than this company's loan of $130,638.
The Spanish Academy, LLC
Entity: Limited Liability Company (LLC)
Industry: Elementary and Secondary Schools
Location: Atlanta, GA
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The Spanish Academy, LLC is a limited liability company (LLC) located at 329 Springdale Dr. in Atlanta, Georgia that received a Coronavirus-related PPP loan from the SBA of $139,600.00 in April, 2020.
The company has reported itself as a female owned business, and employed at least 24 people during the applicable loan loan period.
$
PPP Loan Information
Loan #1121807108
Loan Size:
Jobs Retained:
24Loan Approved:
2020-04-09Loan Status:
Ongoing LoanLender:
Touchmark National BankThe Spanish Academy, LLC in Atlanta, GA received a Paycheck Protection Loan of $139,600 through Touchmark National 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.
Read MoreUnderstanding 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.
Read MoreBased 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 Spanish Academy, LLC's 2019 payroll expenses are estimated to be at least $670,080.
Based on their reported 24 jobs retained, this equals an estimated average yearly compensation of $27,920 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Spanish Academy, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $139,600
Business Information - The Spanish Academy, LLC in Atlanta, GA
329 Springdale Dr.
Atlanta, GA 30305
Business Industry:
Elementary and Secondary Schools
NAICS code 611110
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Atlanta
In the Atlanta area, 10 businesses in the "Elementary and Secondary Schools" industry received a PPP loan. These local businesses reported an average of 49 employees (compared to this company's 24) and received an average PPP loan of $572,482 (compared to this company's $139,600).
Similar Nearby Businesses Who Received PPP Funding:
Northside Education Inc
Atlanta, GA
St Joseph Catholic School
Athens, GA
MIT Associates Inc
Atlanta, GA
David Jones Jr
Atlanta, GA
Academy For Advancing Leadership, Inc
Atlanta, GA
International Preschools At Morningside, LLC
Atlanta, GA
Collective Learning Academy, Inc
Atlanta, GA
Collective Learning Academy Inc
Atlanta, GA
Industry PPP Comparison Statistics
Nationwide, 21,498 businesses in the "Elementary and Secondary Schools" industry received a total of $7.15B 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, 63% higher than The Spanish Academy, LLC's reported 24 employees, and received an average PPP loan of $332,755, 138% higher than this company's loan of $139,600.
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.
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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