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PPP Loan Data — Grace Schools, Winona Lake, IN

SBA PPP loan data, payroll data, and salaries for Grace Schools
IN Nonprofit Organization

Grace Schools

Entity: Non-profit Organization

Industry: Colleges, Universities, and Professional Schools

Location: Winona Lake, IN

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Grace Schools is a non-profit organization located at 200 Seminary Drive in Winona Lake, Indiana that received a Coronavirus-related PPP loan from the SBA of $2,523,200.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.52M

Jobs Retained:

317

Loan Approved:

2020-04-09

Lender:

1ST SOURCE BANK

Grace Schools in Winona Lake, IN received a Paycheck Protection Loan of $2.52M through 1ST SOURCE BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Grace Schools' total 2019 payroll expenses were approximately $12.11M in order to qualify for the PPP loan amount received.

Based on their reported 317 jobs retained, this equals an estimated average yearly compensation of $38,206 per employee1.

Because the loan received by Grace Schools 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 - Grace Schools in Winona Lake, IN

Grace Schools
200 Seminary Drive
Winona Lake, IN 46590

Business Industry

Colleges, Universities, and Professional Schools (NAICS code 611310)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: IN-03

Industry PPP Comparison Statistics

Nationwide, 2,077 businesses in the "Colleges, Universities, and Professional Schools" industry received a total of $1,723,864,433.00 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 86 employees, 73% lower than Grace Schools' reported 317 employees, and received an average PPP loan of $829,978, 67% lower than this company's loan of $2.52M.

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.

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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/grace-schools-winona-lake-in