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PPP Loan Data — Minot Vocational Adjustment Wo, Minot, ND

SBA PPP loan data, payroll data, and salaries for Minot Vocational Adjustment Wo
ND Nonprofit Organization

Minot Vocational Adjustment Wo

Entity: Non-profit Organization

Industry: Residential Intellectual and Developmental Disability Facilities

Location: Minot, ND

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Minot Vocational Adjustment Wo is a non-profit organization located at 605 27th St Se in Minot, North Dakota that received a Coronavirus-related PPP loan from the SBA of $3,395,200.00 in April, 2020.

The company has reported itself as a White male owned non-profit, and employed at least 309 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$3.4M

Jobs Retained:

309

Loan Approved:

2020-04-10

Lender:

FIRST INTERNATIONAL BANK & TRUST

Minot Vocational Adjustment Wo received a Paycheck Protection Loan of $3.4M through FIRST INTERNATIONAL BANK & TRUST, which was approved in April, 2020.

Based on standard PPP eligibility rules, Minot Vocational Adjustment Wo's total 2019 payroll expenses were approximately $16.3M in order to qualify for the PPP loan amount received.

Based on their reported 309 jobs retained, this equals an estimated average yearly compensation of $52,741 per employee1.

Because the loan received by Minot Vocational Adjustment Wo 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 - Minot Vocational Adjustment Wo in Minot, ND

Minot Vocational Adjustment Wo
605 27th St Se
Minot, ND 58701

Business Industry

Residential Intellectual and Developmental Disability Facilities (NAICS code 623210)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: ND-

Industry PPP Comparison Statistics

Nationwide, 1,775 businesses in the "Residential Intellectual and Developmental Disability Facilities" industry received a total of $836,841,517.00 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 61 employees, 80% lower than Minot Vocational Adjustment Wo's reported 309 employees, and received an average PPP loan of $471,460, 86% lower than this company's loan of $3.4M.

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.

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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/minot-vocational-adjustment-wo-minot-nd