FederalPay.org
PPP Loan Data — Cedar Crest College,
Allentown, PA
Cedar Crest College
Entity: Non-profit Organization
Industry: Colleges, Universities, and Professional Schools
Location: Allentown, PA
Tweet This
•
Search All PPP Data
Cedar Crest College is a non-profit organization located at 100 College Dr in Allentown, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $3,953,000.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
477Loan Approved:
2020-04-14Lender:
TRUIST BANK D/B/A BRANCH BANKING & TRUST COCedar Crest College in Allentown, PA received a Paycheck Protection Loan of $3.95M through TRUIST BANK D/B/A BRANCH BANKING & TRUST CO, which was approved in April, 2020.
Based on standard PPP eligibility rules, Cedar Crest College's total 2019 payroll expenses were approximately $18.97M in order to qualify for the PPP loan amount received.
Based on their reported 477 jobs retained, this equals an estimated average yearly compensation of $39,779 per employee1.
Business Information - Cedar Crest College in Allentown, PA
100 College Dr
Allentown, PA 18104
Business Industry
Colleges, Universities, and Professional Schools (NAICS code 611310)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: PA-07Industry PPP Comparison Statistics
Nationwide, 2,077 businesses in the "Colleges, Universities, and Professional Schools" industry received a total of $1,723,864,433.00 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 86 employees, 82% lower than Cedar Crest College's reported 477 employees, and received an average PPP loan of $829,978, 79% lower than this company's loan of $3.95M.
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, and is published unmodified, as provided by the SBA.
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.
Have FederalPay.org's open data tools been valuable? Consider donating!