PPP Loan Data — Friendship Retirement Corporation, Glendale, AZ
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
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.
Business Information - Friendship Retirement Corporation in Glendale, AZ
8611 N 67th Ave
Glendale, AZ 85302
Continuing Care Retirement Communities (NAICS code 623311)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional 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.
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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