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PPP Loan Data — Western Educational Corporation, Lancaster, CA

SBA PPP loan data, payroll data, and salaries for Western Educational Corporation
CA Nonprofit Organization

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.

$ PPP Loan Information

Loan Size:

$6.19M

Jobs Retained:

390

Loan Approved:

2020-04-10

Lender:

HANMI BANK

Western Educational Corporation received a Paycheck Protection Loan of $6.19M through HANMI BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Western Educational Corporation's total 2019 payroll expenses were approximately $29.69M in order to qualify for the PPP loan amount received.

Based on their reported 390 jobs retained, this equals an estimated average yearly compensation of $76,135 per employee1.

Because the loan received by Western Educational Corporation is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Western Educational Corporation in Lancaster, CA

Western Educational Corporation
177 Holston Dr.
Lancaster, CA 93535

Business Industry

All Other Miscellaneous Schools and Instruction (NAICS code 611699)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: FEMALE OWNED

Veteran Status: Unreported

Congressional District: CA-25

Similar Companies near Lancaster

In the Lancaster area, 8 businesses in the "All Other Miscellaneous Schools and Instruction" industry received a PPP loan. These local businesses reported an average of 54 employees (compared to this company's 390) and received an average PPP loan of $799,061 (compared to this company's $6.19M).

Industry PPP Comparison Statistics

Nationwide, 14,482 businesses in the "All Other Miscellaneous Schools and Instruction" industry received a total of $986,137,091.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

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 $68,094, 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.

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Footnotes & Information

1. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/western-educational-corporation-lancaster-ca