PPP Loan Data — Central College, Pella, IA
Central College is a non-profit organization located at 812 University St. in Pella, Iowa that received a Coronavirus-related PPP loan from the SBA of $4,709,682.00 in May, 2020.
The company has reported itself as a male owned non-profit, and employed at least 469 people during the applicable loan loan period.
$ PPP Loan Information
Lender:MARION COUNTY STATE BANK
Central College in Pella, IA received a Paycheck Protection Loan of $4.71M through MARION COUNTY STATE BANK, which was approved in May, 2020.
Based on standard PPP eligibility rules, Central College's total 2019 payroll expenses were approximately $22.61M in order to qualify for the PPP loan amount received.
Based on their reported 469 jobs retained, this equals an estimated average yearly compensation of $48,201 per employee1.
Business Information - Central College in Pella, IA
812 University St.
Pella, IA 50219
Colleges, Universities, and Professional Schools (NAICS code 611310)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: UnreportedCongressional District: IA-02
Industry 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 Central College's reported 469 employees, and received an average PPP loan of $829,978, 82% lower than this company's loan of $4.71M.
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.
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