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PPP Loan Data — Eastern Mennonite University, Harrisonburg, VA

SBA PPP loan data, payroll data, and salaries for Eastern Mennonite University
VA Nonprofit Organization

Eastern Mennonite University

Entity: Non-profit Organization

Industry: Colleges, Universities, and Professional Schools

Location: Harrisonburg, VA

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Eastern Mennonite University is a non-profit organization located at 1200 Park Rd in Harrisonburg, Virginia that received a Coronavirus-related PPP loan from the SBA of $3,704,100.00 in May, 2020.

The company has reported itself as a White male owned non-profit, and employed at least 465 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$3.7M

Jobs Retained:

465

Loan Approved:

2020-05-07

Lender:

PARK VIEW FCU

Eastern Mennonite University received a Paycheck Protection Loan of $3.7M through PARK VIEW FCU, which was approved in May, 2020.

Based on standard PPP eligibility rules, Eastern Mennonite University's total 2019 payroll expenses were approximately $17.78M in order to qualify for the PPP loan amount received.

Based on their reported 465 jobs retained, this equals an estimated average yearly compensation of $38,236 per employee1.

Because the loan received by Eastern Mennonite University 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 - Eastern Mennonite University in Harrisonburg, VA

Eastern Mennonite University
1200 Park Rd
Harrisonburg, VA 22802

Business Industry

Colleges, Universities, and Professional Schools (NAICS code 611310)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: VA-06

Industry PPP Comparison Statistics

Nationwide, 2,077 businesses in the "Colleges, Universities, and Professional Schools" industry received a total of $1,723,864,433.00 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 86 employees, 82% lower than Eastern Mennonite University's reported 465 employees, and received an average PPP loan of $829,978, 78% lower than this company's loan of $3.7M.

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.

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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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Source: www.federalpay.org/paycheck-protection-program/eastern-mennonite-university-harrisonburg-va