PPP Loan Data — The Woodlands Christian Academy, The Woodlands, TX
The Woodlands Christian Academy is a non-profit organization located at 5800 Academy Way in The Woodlands, Texas that received a Coronavirus-related PPP loan from the SBA of $1,924,700.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Woodforest National Bank
The Woodlands Christian Academy in The Woodlands, TX received a Paycheck Protection Loan of $1.92M through Woodforest National Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in March, 2021.
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 Woodlands Christian Academy's 2019 payroll expenses are estimated to be at least $9.24M.
Based on their reported 162 jobs retained, this equals an estimated average yearly compensation of $57,028 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Woodlands Christian Academy reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,924,700
Business Information - The Woodlands Christian Academy in The Woodlands, TX
5800 Academy Way
The Woodlands, TX 77384
Elementary and Secondary Schools
NAICS code 611110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near The Woodlands
In the The Woodlands area, 4 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 162) and received an average PPP loan of $511,378 (compared to this company's $1.92M).
Similar Nearby Businesses Who Received PPP Funding:
Tenjay Educational Consulting
Rubicon Academy Inc
The Woodlands Microschool, LLC
Industry PPP Comparison Statistics
Nationwide, 22,714 businesses in the "Elementary and Secondary Schools" industry received a total of $7.35B 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 38 employees, 77% lower than The Woodlands Christian Academy's reported 162 employees, and received an average PPP loan of $323,643, 83% lower than this company's loan of $1.92M.
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Footnotes & Information
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