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PPP Loan Data — Hiram College, Hiram, OH

SBA PPP loan data, payroll data, and salaries for Hiram College
OH

Hiram College

Entity: Corporation

Industry: Colleges, Universities, and Professional Schools

Location: Hiram, OH

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Hiram College is a corporation located at 11715 State Route 700 in Hiram, Ohio that received a Coronavirus-related PPP loan from the SBA of $2,820,885.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 428 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$2.82M

Jobs Retained:

428

Loan Approved:

2020-04-11

Lender:

THE HUNTINGTON NATIONAL BANK

Hiram College in Hiram, OH received a Paycheck Protection Loan of $2.82M through THE HUNTINGTON NATIONAL BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Hiram College's total 2019 payroll expenses were approximately $13.54M in order to qualify for the PPP loan amount received.

Based on their reported 428 jobs retained, this equals an estimated average yearly compensation of $31,636 per employee1.

Because the loan received by Hiram College 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 - Hiram College in Hiram, OH

Hiram College
11715 State Route 700
Hiram, OH 44234

Business Industry

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

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: Unreported

Congressional District: OH-14

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, 80% lower than Hiram College's reported 428 employees, and received an average PPP loan of $829,978, 71% lower than this company's loan of $2.82M.

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/hiram-college-hiram-oh