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PPP Loan Data — Central Minnesota Mental Health Center, Waite Park, MN

SBA PPP loan data, payroll data, and salaries for Central Minnesota Mental Health Center
MN Nonprofit Organization

Central Minnesota Mental Health Center

Entity: Non-profit Organization

Industry: Offices of Physicians, Mental Health Specialists

Location: Waite Park, MN

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Central Minnesota Mental Health Center is a non-profit organization located at 411 3rd St in Waite Park, Minnesota that received a Coronavirus-related PPP loan from the SBA of $3,206,400.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.21M

Jobs Retained:

250

Loan Approved:

2020-04-04

Lender:

AMERICAN HERITAGE NATIONAL BANK

Central Minnesota Mental Health Center in Waite Park, MN received a Paycheck Protection Loan of $3.21M through AMERICAN HERITAGE NATIONAL BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Central Minnesota Mental Health Center's total 2019 payroll expenses were approximately $15.39M in order to qualify for the PPP loan amount received.

Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $61,563 per employee1.

Because the loan received by Central Minnesota Mental Health Center 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 Minnesota Mental Health Center in Waite Park, MN

Central Minnesota Mental Health Center
411 3rd St
Waite Park, MN 56387

Business Industry

Offices of Physicians, Mental Health Specialists (NAICS code 621112)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: NON-VETERAN

Congressional District: MN-06

Industry PPP Comparison Statistics

Nationwide, 13,272 businesses in the "Offices of Physicians, Mental Health Specialists" industry received a total of $1,260,960,972.00 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 8 employees, 97% lower than Central Minnesota Mental Health Center's reported 250 employees, and received an average PPP loan of $95,009, 97% lower than this company's loan of $3.21M.

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/central-minnesota-mental-health-center-waite-park-mn