PPP Loan Data — Development Homes Inc, Grand Forks, ND
Development Homes Inc
Entity: Non-profit Organization
Location: Grand Forks, NDTweet This • Search All PPP Data
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
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.
Business Information - Development Homes Inc in Grand Forks, ND
3880 Columbia Rd
Grand Forks, ND 58201
Residential Mental Health and Substance Abuse Facilities (NAICS code 623220)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional 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
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.
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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