PPP Loan Data — Children's Miracle Network, Salt Lake City, UT
Children's Miracle Network is a non-profit organization located at 205 West 700 South in Salt Lake City, Utah that received a Coronavirus-related PPP loan from the SBA of $2,441,700.00 in April, 2020.
$ PPP Loan Information
Lender:CACHE VALLEY BANK
Children's Miracle Network received a Paycheck Protection Loan of $2.44M through CACHE VALLEY BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Children's Miracle Network's total 2019 payroll expenses were approximately $11.72M in order to qualify for the PPP loan amount received.
Based on their reported 165 jobs retained, this equals an estimated average yearly compensation of $71,031 per employee1.
Business Information - Children's Miracle Network in Salt Lake City, UT
205 West 700 South
Salt Lake City, UT 84101
Grantmaking Foundations (NAICS code 813211)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: UT-02
Similar Companies near Salt Lake City
In the Salt Lake City area, 3 businesses in the "Grantmaking Foundations" industry received a PPP loan. These local businesses reported an average of 60 employees (compared to this company's 165) and received an average PPP loan of $834,315 (compared to this company's $2.44M).
Similar Nearby Businesses Who Received PPP Funding:
Pioneer Park Coalition
Salt Lake City, UT
Scottish Rite Foundation Of Utah
Salt Lake City, UT
Industry PPP Comparison Statistics
Nationwide, 3,204 businesses in the "Grantmaking Foundations" industry received a total of $410,316,849.00 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 12 employees, 93% lower than Children's Miracle Network's reported 165 employees, and received an average PPP loan of $128,064, 95% lower than this company's loan of $2.44M.
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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) 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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