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PPP Loan Data — Western Educational Corporation,
Lancaster, CA
Western Educational Corporation
Entity: Non-profit Organization
Industry: All Other Miscellaneous Schools and Instruction
Location: Lancaster, CA
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Western Educational Corporation is a non-profit organization located at 177 Holston Dr. in Lancaster, California that received a Coronavirus-related PPP loan from the SBA of $6,186,000.00 in April, 2020.
The company has reported itself as a female owned non-profit, and employed at least 390 people during the applicable loan loan period.
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PPP Loan Information
Loan #2555017109
Loan Size:
Jobs Retained:
390Loan Approved:
2020-04-10Loan Status:
Paid in Full or ForgivenLender:
Hanmi BankWestern Educational Corporation in Lancaster, CA received a Paycheck Protection Loan of $6.19M through Hanmi 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 August, 2021.
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, Western Educational Corporation's 2019 payroll expenses are estimated to be at least $29.69M.
Based on their reported 390 jobs retained, this equals an estimated average yearly compensation of $76,135 per employee1
Reported PPP Proceed Usage:
On the PPP application, Western Educational Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $6,186,000
Business Information - Western Educational Corporation in Lancaster, CA
177 Holston Dr.
Lancaster, CA 93535
Business Industry:
All Other Miscellaneous Schools and Instruction
NAICS code 611699
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Female Owned
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Businesses Using Same Address:
There are 6 other businesses that received a PPP loan registered to the same address as Western Educational Corporation.
U.s. Learning Corporation
Elementary and Secondary Schools
Mission View Public Charter, Inc
Elementary and Secondary Schools
Sierra Educational Advancement Corporation
Elementary and Secondary Schools
Diego Plus Education Corporation
Elementary and Secondary Schools
Alta Vista Public Charter, Inc
Elementary and Secondary Schools
Vista Real Public Charter, Inc
Elementary and Secondary Schools
Similar Companies near Lancaster
In the Lancaster area, 17 businesses in the "All Other Miscellaneous Schools and Instruction" industry received a PPP loan. These local businesses reported an average of 28 employees (compared to this company's 390) and received an average PPP loan of $383,045 (compared to this company's $6.19M).
Similar Nearby Businesses Who Received PPP Funding:
Sunbeam LLC
Lancaster, CA
Angie Gomez
Lancaster, CA
All My Children Learning Institute
Lancaster, CA
Extensions Performing Arts Academy LLC
Lancaster, CA
Sweet Cheeks Inc
Lancaster, CA
Kiaira Taylor
Lancaster, CA
Timothy Jay Lee
Lancaster, CA
Small Wonders Day Care & Preschool Inc
Lancaster, CA
Industry PPP Comparison Statistics
Nationwide, 28,101 businesses in the "All Other Miscellaneous Schools and Instruction" industry received a total of $1.51B 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 9 employees, 98% lower than Western Educational Corporation's reported 390 employees, and received an average PPP loan of $53,845, 99% lower than this company's loan of $6.19M.
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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