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PPP Loan Data — Lutheran Social Services Of North Dakota, Fargo, ND

SBA PPP loan data, payroll data, and salaries for Lutheran Social Services Of North Dakota
ND Nonprofit Organization

Lutheran Social Services Of North Dakota

Entity: Non-profit Organization

Industry: Other Individual and Family Services

Location: Fargo, ND

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Lutheran Social Services Of North Dakota is a non-profit organization located at 3911 20th Ave. S. in Fargo, North Dakota that received a Coronavirus-related PPP loan from the SBA of $2,595,800.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.6M

Jobs Retained:

328

Loan Approved:

2020-04-07

Lender:

BREMER BANK, NATIONAL ASSOCIATION

Lutheran Social Services Of North Dakota in Fargo, ND received a Paycheck Protection Loan of $2.6M through BREMER BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Lutheran Social Services Of North Dakota's total 2019 payroll expenses were approximately $12.46M in order to qualify for the PPP loan amount received.

Based on their reported 328 jobs retained, this equals an estimated average yearly compensation of $37,987 per employee1.

Because the loan received by Lutheran Social Services Of North Dakota 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 - Lutheran Social Services Of North Dakota in Fargo, ND

Lutheran Social Services Of North Dakota
3911 20th Ave. S.
Fargo, ND 58104

Business Industry

Other Individual and Family Services (NAICS code 624190)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: ND-

Similar Companies near Fargo

In the Fargo area, 10 businesses in the "Other Individual and Family Services" industry received a PPP loan. These local businesses reported an average of 80 employees (compared to this company's 328) and received an average PPP loan of $810,621 (compared to this company's $2.6M).

Industry PPP Comparison Statistics

Nationwide, 15,794 businesses in the "Other Individual and Family Services" industry received a total of $2,302,146,944.00 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 17 employees, 95% lower than Lutheran Social Services Of North Dakota's reported 328 employees, and received an average PPP loan of $145,761, 94% lower than this company's loan of $2.6M.

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/lutheran-social-services-of-north-dakota-fargo-nd