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PPP Loan Data — Houghton College, Houghton, NY

SBA PPP loan data, payroll data, and salaries for Houghton College
NY Nonprofit Organization

Houghton College

Entity: Non-profit Organization

Industry: Junior Colleges

Location: Houghton, NY

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Houghton College is a non-profit organization located at 1 Willard Ave in Houghton, New York that received a Coronavirus-related PPP loan from the SBA of $2,673,700.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.67M

Jobs Retained:

482

Loan Approved:

2020-04-13

Lender:

KEYBANK NATIONAL ASSOCIATION

Houghton College in Houghton, NY received a Paycheck Protection Loan of $2.67M through KEYBANK NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Houghton College's total 2019 payroll expenses were approximately $12.83M in order to qualify for the PPP loan amount received.

Based on their reported 482 jobs retained, this equals an estimated average yearly compensation of $26,626 per employee1.

Because the loan received by Houghton 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 - Houghton College in Houghton, NY

Houghton College
1 Willard Ave
Houghton, NY 14744

Business Industry

Junior Colleges (NAICS code 611210)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NY-23

Industry PPP Comparison Statistics

Nationwide, 223 businesses in the "Junior Colleges" industry received a total of $83,549,293.00 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 48 employees, 90% lower than Houghton College's reported 482 employees, and received an average PPP loan of $374,661, 86% lower than this company's loan of $2.67M.

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.

Search FederalPay's Full PPP Loan Database

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/houghton-college-houghton-ny