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PPP Loan Data — Lutherine Family Services Of Virginia, Inc., Roanoke, VA

SBA PPP loan data, payroll data, and salaries for Lutherine Family Services Of Virginia, Inc.
VA Nonprofit Organization

Lutherine Family Services Of Virginia, Inc.

Entity: Non-profit Organization

Industry: Child and Youth Services

Location: Roanoke, VA

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Lutherine Family Services Of Virginia, Inc. is a non-profit organization located at 2609 Mcvitty Road in Roanoke, Virginia that received a Coronavirus-related PPP loan from the SBA of $3,379,200.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.38M

Jobs Retained:

376

Loan Approved:

2020-04-07

Lender:

FIRST-CITIZENS BANK & TRUST COMPANY

Lutherine Family Services Of Virginia, Inc. received a Paycheck Protection Loan of $3.38M through FIRST-CITIZENS BANK & TRUST COMPANY, which was approved in April, 2020.

Based on standard PPP eligibility rules, Lutherine Family Services Of Virginia, Inc.'s total 2019 payroll expenses were approximately $16.22M in order to qualify for the PPP loan amount received.

Based on their reported 376 jobs retained, this equals an estimated average yearly compensation of $43,139 per employee1.

Because the loan received by Lutherine Family Services Of Virginia, 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 - Lutherine Family Services Of Virginia, Inc. in Roanoke, VA

Lutherine Family Services Of Virginia, Inc.
2609 Mcvitty Road
Roanoke, VA 24018

Business Industry

Child and Youth Services (NAICS code 624110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: VA-06

Similar Companies near Roanoke

In the Roanoke area, 2 businesses in the "Child and Youth Services" industry received a PPP loan. These local businesses reported an average of 274 employees (compared to this company's 376) and received an average PPP loan of $2,511,844 (compared to this company's $3.38M).

Similar Nearby Businesses Who Received PPP Funding:

Depaul Community Resources
Roanoke, VA

$1.64M PPP Loan

Industry PPP Comparison Statistics

Nationwide, 6,712 businesses in the "Child and Youth Services" industry received a total of $1,286,022,505.00 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 24 employees, 94% lower than Lutherine Family Services Of Virginia, Inc.'s reported 376 employees, and received an average PPP loan of $191,600, 94% lower than this company's loan of $3.38M.

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.

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/lutherine-family-services-of-virginia-inc-roanoke-va