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PPP Loan Data — Friendship Retirement Corporation, Glendale, AZ

SBA PPP loan data, payroll data, and salaries for Friendship Retirement Corporation
AZ Nonprofit Organization

Friendship Retirement Corporation

Entity: Non-profit Organization

Industry: Continuing Care Retirement Communities

Location: Glendale, AZ

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Friendship Retirement Corporation is a non-profit organization located at 8611 N 67th Ave in Glendale, Arizona that received a Coronavirus-related PPP loan from the SBA of $4,187,200.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.19M

Jobs Retained:

414

Loan Approved:

2020-04-09

Lender:

BMO HARRIS BANK NATIONAL ASSOCIATION

Friendship Retirement Corporation in Glendale, AZ received a Paycheck Protection Loan of $4.19M through BMO HARRIS BANK NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Friendship Retirement Corporation's total 2019 payroll expenses were approximately $20.1M in order to qualify for the PPP loan amount received.

Based on their reported 414 jobs retained, this equals an estimated average yearly compensation of $48,547 per employee1.

Because the loan received by Friendship Retirement Corporation 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 - Friendship Retirement Corporation in Glendale, AZ

Friendship Retirement Corporation
8611 N 67th Ave
Glendale, AZ 85302

Business Industry

Continuing Care Retirement Communities (NAICS code 623311)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: AZ-08

Industry PPP Comparison Statistics

Nationwide, 2,172 businesses in the "Continuing Care Retirement Communities" industry received a total of $1,251,764,538.00 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 69 employees, 83% lower than Friendship Retirement Corporation's reported 414 employees, and received an average PPP loan of $576,319, 86% lower than this company's loan of $4.19M.

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/friendship-retirement-corporation-glendale-az