PPP Loan Data — Minnesota Odd Fellows Home, Northfield, MN
Minnesota Odd Fellows Home
Entity: Non-profit Organization
Location: Northfield, MNTweet This • Search All PPP Data
Minnesota Odd Fellows Home is a non-profit organization located at 815 Forest Ave in Northfield, Minnesota that received a Coronavirus-related PPP loan from the SBA of $2,100,200.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Merchants Bank, National Association
Minnesota Odd Fellows Home in Northfield, MN received a Paycheck Protection Loan of $2.1M through Merchants Bank, National Association, 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, Minnesota Odd Fellows Home's 2019 payroll expenses are estimated to be at least $10.08M.
Based on their reported 210 jobs retained, this equals an estimated average yearly compensation of $48,005 per employee1
Reported PPP Proceed Usage:
On the PPP application, Minnesota Odd Fellows Home reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,100,200
Business Information - Minnesota Odd Fellows Home in Northfield, MN
815 Forest Ave
Northfield, MN 55057
Nursing Care Facilities (Skilled Nursing Facilities)
NAICS code 623110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 15,360 businesses in the "Nursing Care Facilities (Skilled Nursing Facilities)" industry received a total of $6.8B 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 60 employees, 71% lower than Minnesota Odd Fellows Home's reported 210 employees, and received an average PPP loan of $442,944, 79% lower than this company's loan of $2.1M.
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