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PPP Loan Data — Development Homes Inc, Grand Forks, ND

SBA PPP loan data, payroll data, and salaries for Development Homes Inc
ND Nonprofit Organization

Development Homes Inc

Entity: Non-profit Organization

Industry: Residential Mental Health and Substance Abuse Facilities

Location: Grand Forks, ND

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Development Homes Inc is a non-profit organization located at 3880 Columbia Rd in Grand Forks, North Dakota that received a Coronavirus-related PPP loan from the SBA of $2,652,300.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.65M

Jobs Retained:

458

Loan Approved:

2020-04-05

Lender:

GATE CITY BANK

Development Homes Inc in Grand Forks, ND received a Paycheck Protection Loan of $2.65M through GATE CITY BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Development Homes Inc's total 2019 payroll expenses were approximately $12.73M in order to qualify for the PPP loan amount received.

Based on their reported 458 jobs retained, this equals an estimated average yearly compensation of $27,797 per employee1.

Because the loan received by Development Homes Inc 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 - Development Homes Inc in Grand Forks, ND

Development Homes Inc
3880 Columbia Rd
Grand Forks, ND 58201

Business Industry

Residential Mental Health and Substance Abuse Facilities (NAICS code 623220)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: ND-

Similar Companies near Grand Forks

In the Grand Forks area, 2 businesses in the "Residential Mental Health and Substance Abuse Facilities" industry received a PPP loan. These local businesses reported an average of 229 employees (compared to this company's 458) and received an average PPP loan of $1,327,738 (compared to this company's $2.65M).

Similar Nearby Businesses Who Received PPP Funding:

Your Pal Kal, LLC
Grand Forks, ND

$3,176 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 2,121 businesses in the "Residential Mental Health and Substance Abuse Facilities" industry received a total of $773,399,773.00 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 38 employees, 92% lower than Development Homes Inc's reported 458 employees, and received an average PPP loan of $364,639, 86% lower than this company's loan of $2.65M.

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.

Search FederalPay's Full PPP Loan Database

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/development-homes-inc-grand-forks-nd