PPP Loan Data — Institute For Family Development, Federal Way, WA
Institute For Family Development is a non-profit organization located at 34004 16th Ave S Ste 200 in Federal Way, Washington that received a Coronavirus-related PPP loan from the SBA of $1,616,000.00 in July, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Institute For Family Development in Federal Way, WA received a Paycheck Protection Loan of $1.62M through Bank of America, National Association, which was approved in July, 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, Institute For Family Development's 2019 payroll expenses are estimated to be at least $7.76M.
Based on their reported 136 jobs retained, this equals an estimated average yearly compensation of $57,035 per employee1
Reported PPP Proceed Usage:
On the PPP application, Institute For Family Development reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,616,000
Business Information - Institute For Family Development in Federal Way, WA
34004 16th Ave S Ste 200
Federal Way, WA 98003
Other Social Advocacy Organizations
NAICS code 813319
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Federal Way
In the Federal Way area, 6 businesses in the "Other Social Advocacy Organizations" industry received a PPP loan. These local businesses reported an average of 28 employees (compared to this company's 136) and received an average PPP loan of $297,461 (compared to this company's $1.62M).
Similar Nearby Businesses Who Received PPP Funding:
Black Education Strategy Roundtable
Federal Way, WA
Esperanza International Foundation
American NW Fund-A
PB Fitness LLC
Beaux Arts, WA
The Syndrome Mag
Industry PPP Comparison Statistics
Nationwide, 9,921 businesses in the "Other Social Advocacy Organizations" industry received a total of $1.43B 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 16 employees, 88% lower than Institute For Family Development's reported 136 employees, and received an average PPP loan of $144,360, 91% lower than this company's loan of $1.62M.
FederalPay's PPP Information Policy
Footnotes & Information
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