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PPP Loan Data — Central College, Pella, IA

SBA PPP loan data, payroll data, and salaries for Central College
IA Nonprofit Organization

Central College

Entity: Non-profit Organization

Industry: Colleges, Universities, and Professional Schools

Location: Pella, IA

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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

Loan Size:

$4.71M

Jobs Retained:

469

Loan Approved:

2020-05-07

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.

Because the loan received by Central College 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 - Central College in Pella, IA

Central College
812 University St.
Pella, IA 50219

Business Industry

Colleges, Universities, and Professional Schools (NAICS code 611310)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: Unreported

Congressional 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.

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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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Source: www.federalpay.org/paycheck-protection-program/central-college-pella-ia