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PPP Loan Data — Eastern Niagara Hospital, Lockport, NY

SBA PPP loan data, payroll data, and salaries for Eastern Niagara Hospital
NY Nonprofit Organization

Eastern Niagara Hospital

Entity: Non-profit Organization

Industry: General Medical and Surgical Hospitals

Location: Lockport, NY

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Eastern Niagara Hospital is a non-profit organization located at 521 East Avenue in Lockport, New York that received a Coronavirus-related PPP loan from the SBA of $5,853,436.00 in June, 2020.

$ PPP Loan Information

Loan Size:

$5.85M

Jobs Retained:

480

Loan Approved:

2020-06-24

Lender:

CORNERSTONE COMMUNITY FCU

Eastern Niagara Hospital received a Paycheck Protection Loan of $5.85M through CORNERSTONE COMMUNITY FCU, which was approved in June, 2020.

Based on standard PPP eligibility rules, Eastern Niagara Hospital's total 2019 payroll expenses were approximately $28.1M in order to qualify for the PPP loan amount received.

Based on their reported 480 jobs retained, this equals an estimated average yearly compensation of $58,534 per employee1.

Because the loan received by Eastern Niagara Hospital 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 Niagara Hospital in Lockport, NY

Eastern Niagara Hospital
521 East Avenue
Lockport, NY 14094

Business Industry

General Medical and Surgical Hospitals (NAICS code 622110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NY-27

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, 92% lower than Eastern Niagara Hospital's reported 480 employees, and received an average PPP loan of $491,002, 92% lower than this company's loan of $5.85M.

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/eastern-niagara-hospital-lockport-ny