PPP Loan Data — Goodwill Industries Of Northeast Iowa, Waterloo, IA
Goodwill Industries Of Northeast Iowa is a non-profit organization located at 2640 Falls Ave in Waterloo, Iowa that received a Coronavirus-related PPP loan from the SBA of $2,248,767.00 in April, 2020.
The company has reported itself as a male owned non-profit, and employed at least 500 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Goodwill Industries Of Northeast Iowa in Waterloo, IA received a Paycheck Protection Loan of $2.25M through BankIowa, which was approved in April, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Goodwill Industries Of Northeast Iowa's 2019 payroll expenses are estimated to be at least $10.79M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $21,588 per employee1
Reported PPP Proceed Usage:
On the PPP application, Goodwill Industries Of Northeast Iowa reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,248,767
Business Information - Goodwill Industries Of Northeast Iowa in Waterloo, IA
2640 Falls Ave
Waterloo, IA 50701
Vocational Rehabilitation Services
NAICS code 624310
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 3,932 businesses in the "Vocational Rehabilitation Services" industry received a total of $878.96M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 32 employees, 94% lower than Goodwill Industries Of Northeast Iowa's reported 500 employees, and received an average PPP loan of $223,541, 90% lower than this company's loan of $2.25M.
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Footnotes & Information
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