PPP Loan Data — Mennonite Brethren Home Inc, Reedley, CA
Mennonite Brethren Home Inc is a non-profit organization located at 703 W Herbert Ave in Reedley, California that received a Coronavirus-related PPP loan from the SBA of $1,634,868.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of the Sierra
Mennonite Brethren Home Inc in Reedley, CA received a Paycheck Protection Loan of $1.63M through Bank of the Sierra, which was approved in April, 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, Mennonite Brethren Home Inc's 2019 payroll expenses are estimated to be at least $7.85M.
Based on their reported 221 jobs retained, this equals an estimated average yearly compensation of $35,508 per employee1
Reported PPP Proceed Usage:
On the PPP application, Mennonite Brethren Home Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,634,868
Business Information - Mennonite Brethren Home Inc in Reedley, CA
703 W Herbert Ave
Reedley, CA 93654
Continuing Care Retirement Communities
NAICS code 623311
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 2,718 businesses in the "Continuing Care Retirement Communities" industry received a total of $1.53B 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 77 employees, 65% lower than Mennonite Brethren Home Inc's reported 221 employees, and received an average PPP loan of $561,944, 66% lower than this company's loan of $1.63M.
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Footnotes & Information
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