PPP Loan Data — University Liggett School, Grosse Pointe, MI
University Liggett School is a non-profit organization located at 1045 Cook Road in Grosse Pointe, Michigan that received a Coronavirus-related PPP loan from the SBA of $1,732,022.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:The Huntington National Bank
University Liggett School in Grosse Pointe, MI received a Paycheck Protection Loan of $1.73M through The Huntington 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 January, 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, University Liggett School's 2019 payroll expenses are estimated to be at least $8.31M.
Based on their reported 179 jobs retained, this equals an estimated average yearly compensation of $46,445 per employee1
Reported PPP Proceed Usage:
On the PPP application, University Liggett School reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,732,022
Business Information - University Liggett School in Grosse Pointe, MI
1045 Cook Road
Grosse Pointe, MI 48236
Educational Support Services
NAICS code 611710
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Grosse Pointe
In the Grosse Pointe area, 34 businesses in the "Educational Support Services" industry received a PPP loan. These local businesses reported an average of 12 employees (compared to this company's 179) and received an average PPP loan of $123,470 (compared to this company's $1.73M).
Similar Nearby Businesses Who Received PPP Funding:
Excellent Schools Detroit
Oak Park, MI
Sierra Gildon Haywood
Kindergarten Round-Up Childcare LLC
Clock- Wise Education, LLC
Industry PPP Comparison Statistics
Nationwide, 39,474 businesses in the "Educational Support Services" industry received a total of $2.35B 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 7 employees, 96% lower than University Liggett School's reported 179 employees, and received an average PPP loan of $59,417, 97% lower than this company's loan of $1.73M.
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Footnotes & Information
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