COGNIA INC
PPP Loan approved Apr 14, 2020 through PNC Bank, National Association
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $9,942,300.00 | 100.0% |
About This Loan
COGNIA INC received a PPP loan of $9,942,300 approved on Apr 14, 2020. The loan was originated by PNC Bank, National Association.
COGNIA INC is a non-profit organization located in ALPHARETTA, Georgia. At the time of the application, the business was described as "existing or more than 2 years old". This organization is classified as a non-profit.
The business operates in the Educational Support Services industry (NAICS 611710), part of the Educational Services sector of the economy. The applicant reported 462 jobs as retained through this loan.
The SBA forgave $10,059,950.55 of this loan — 101.2% of the total approved amount, with forgiveness recorded on Jun 17, 2021. This means the borrower was not required to repay this portion, having satisfied the PPP's eligibility criteria for forgiveness, including maintaining payroll levels and using the funds for qualified expenses.
According to the SBA's records, the proceeds of this loan were allocated as follows: $9,942,300 to payroll. The payroll component represents 100.0% of disclosed proceeds, consistent with the program's requirement that at least 60% of loan funds be used for payroll costs to qualify for full forgiveness.
This loan is one of millions approved nationwide during the COVID-19 pandemic. To explore other recipients in Georgia, visit the Georgia page. To compare this loan with others in the same industry, see the Educational Support Services industry page.