PPP Loan Data — University Of Detroit Jesuit High School And Academy, Detroit, MI
University Of Detroit Jesuit High School And Academy is a non-profit organization located at 84 S. Cambridge Ave in Detroit, Michigan that received a Coronavirus-related PPP loan from the SBA of $1,786,100.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:PNC Bank, National Association
University Of Detroit Jesuit High School And Academy in Detroit, MI received a Paycheck Protection Loan of $1.79M through PNC Bank, National Association, which was approved in May, 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 June, 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 Of Detroit Jesuit High School And Academy's 2019 payroll expenses are estimated to be at least $8.57M.
Based on their reported 234 jobs retained, this equals an estimated average yearly compensation of $36,638 per employee1
Reported PPP Proceed Usage:
On the PPP application, University Of Detroit Jesuit High School And Academy reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,786,100
Business Information - University Of Detroit Jesuit High School And Academy in Detroit, MI
84 S. Cambridge Ave
Detroit, MI 48221
Elementary and Secondary Schools
NAICS code 611110
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Detroit
In the Detroit area, 7 businesses in the "Elementary and Secondary Schools" industry received a PPP loan. These local businesses reported an average of 38 employees (compared to this company's 234) and received an average PPP loan of $300,298 (compared to this company's $1.79M).
Similar Nearby Businesses Who Received PPP Funding:
Greater Horizon Training Institute
Great Lake Montessori Schools, Inc
Modern Day Conductors
SC Partners, LLC
Great Lakes Montessori Schools Inc
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, 84% lower than University Of Detroit Jesuit High School And Academy's reported 234 employees, and received an average PPP loan of $323,643, 82% lower than this company's loan of $1.79M.
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Footnotes & Information
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