PPP Loan Data — Feed My Staving Children, Coon Rapids, MN
Feed My Staving Children is a non-profit organization located at 401 93rd Ave Ave Nw in Coon Rapids, Minnesota that received a Coronavirus-related PPP loan from the SBA of $2,587,535.00 in April, 2020.
$ PPP Loan Information
Lender:TRADITION CAPITAL BANK
Feed My Staving Children received a Paycheck Protection Loan of $2.59M through TRADITION CAPITAL BANK, which was approved in April, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 23 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 124.
Based on standard PPP eligibility rules, Feed My Staving Children's total 2019 payroll expenses were approximately $12.42M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 23 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Feed My Staving Children in Coon Rapids, MN
401 93rd Ave Ave Nw
Coon Rapids, MN 55433
Human Rights Organizations (NAICS code 813311)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MN-03
Similar Companies near Coon Rapids
In the Coon Rapids area, 2 businesses in the "Human Rights Organizations" industry received a PPP loan. These local businesses reported an average of 133 employees (compared to this company's 23) and received an average PPP loan of $1,933,768 (compared to this company's $2.59M).
Similar Nearby Businesses Who Received PPP Funding:
Premier Disability Services, LLC
Industry PPP Comparison Statistics
Nationwide, 683 businesses in the "Human Rights Organizations" industry received a total of $140,342,903.00 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 18 employees, 22% lower than Feed My Staving Children's reported 23 employees, and received an average PPP loan of $205,480, 92% lower than this company's loan of $2.59M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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