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PPP Loan Data — Greenwood Genetic Center, Inc., Greenwood, SC

SBA PPP loan data, payroll data, and salaries for Greenwood Genetic Center, Inc.
SC Nonprofit Organization

Greenwood Genetic Center, Inc.

Entity: Non-profit Organization

Industry: Medical Laboratories

Location: Greenwood, SC

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Greenwood Genetic Center, Inc. is a non-profit organization located at 101 Gregor Mendel Circle in Greenwood, South Carolina that received a Coronavirus-related PPP loan from the SBA of $2,506,500.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.51M

Jobs Retained:

172

Loan Approved:

2020-04-07

Lender:

FIRST-CITIZENS BANK & TRUST COMPANY

Greenwood Genetic Center, Inc. received a Paycheck Protection Loan of $2.51M through FIRST-CITIZENS BANK & TRUST COMPANY, which was approved in April, 2020.

Based on standard PPP eligibility rules, Greenwood Genetic Center, Inc.'s total 2019 payroll expenses were approximately $12.03M in order to qualify for the PPP loan amount received.

Based on their reported 172 jobs retained, this equals an estimated average yearly compensation of $69,949 per employee1.

Because the loan received by Greenwood Genetic Center, Inc. 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 - Greenwood Genetic Center, Inc. in Greenwood, SC

Greenwood Genetic Center, Inc.
101 Gregor Mendel Circle
Greenwood, SC 29646

Business Industry

Medical Laboratories (NAICS code 621511)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: SC-03

Industry PPP Comparison Statistics

Nationwide, 3,529 businesses in the "Medical Laboratories" industry received a total of $652,578,027.00 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 15 employees, 91% lower than Greenwood Genetic Center, Inc.'s reported 172 employees, and received an average PPP loan of $184,919, 93% lower than this company's loan of $2.51M.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) 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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Source: www.federalpay.org/paycheck-protection-program/greenwood-genetic-center-inc-greenwood-sc