PPP Loan Data — City Of Lemars, Iowa, Le Mars, IA
City Of Lemars, Iowa is a non-profit organization located at 40 Central Ave in Le Mars, Iowa that received a Coronavirus-related PPP loan from the SBA of $3,735,200.00 in April, 2020.
$ PPP Loan Information
Lender:AMERICAN BANK, NATIONAL ASSOCIATION
City Of Lemars, Iowa in Le Mars, IA received a Paycheck Protection Loan of $3.74M through AMERICAN BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, City Of Lemars, Iowa's total 2019 payroll expenses were approximately $17.93M in order to qualify for the PPP loan amount received.
Based on their reported 331 jobs retained, this equals an estimated average yearly compensation of $54,166 per employee1.
Business Information - City Of Lemars, Iowa in Le Mars, IA
40 Central Ave
Le Mars, IA 51031
General Medical and Surgical Hospitals (NAICS code 622110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: IA-04
Industry PPP Comparison Statistics
Nationwide, 6,339 businesses in the "General Medical and Surgical Hospitals" industry received a total of $3,112,462,478.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 40 employees, 88% lower than City Of Lemars, Iowa's reported 331 employees, and received an average PPP loan of $491,002, 87% lower than this company's loan of $3.74M.
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!