PPP Loan Data — Lyngblomsten Care Center Inc, Saint Paul, MN
Lyngblomsten Care Center Inc
Entity: Non-profit Organization
Location: Saint Paul, MNTweet This • Search All PPP Data
Lyngblomsten Care Center Inc is a non-profit organization located at 1415 Almond Ave in Saint Paul, Minnesota that received a Coronavirus-related PPP loan from the SBA of $4,186,700.00 in April, 2020.
$ PPP Loan Information
Lender:BREMER BANK, NATIONAL ASSOCIATION
Lyngblomsten Care Center Inc in Saint Paul, MN received a Paycheck Protection Loan of $4.19M through BREMER BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Lyngblomsten Care Center Inc's total 2019 payroll expenses were approximately $20.1M in order to qualify for the PPP loan amount received.
Based on their reported 458 jobs retained, this equals an estimated average yearly compensation of $43,878 per employee1.
Business Information - Lyngblomsten Care Center Inc in Saint Paul, MN
1415 Almond Ave
Saint Paul, MN 55108
Nursing Care Facilities (Skilled Nursing Facilities) (NAICS code 623110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MN-04
Similar Companies near Saint Paul
In the Saint Paul area, 2 businesses in the "Nursing Care Facilities (Skilled Nursing Facilities)" industry received a PPP loan. These local businesses reported an average of 307 employees (compared to this company's 458) and received an average PPP loan of $2,605,850 (compared to this company's $4.19M).
Similar Nearby Businesses Who Received PPP Funding:
St. Anthony Park Home Inc.
St. Paul, MN
Industry PPP Comparison Statistics
Nationwide, 9,872 businesses in the "Nursing Care Facilities (Skilled Nursing Facilities)" industry received a total of $5,508,018,433.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 66 employees, 86% lower than Lyngblomsten Care Center Inc's reported 458 employees, and received an average PPP loan of $557,944, 87% lower than this company's loan of $4.19M.
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.
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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