PPP Loan Data — Morningside College,
Sioux City, IA
Morningside College
Entity: Non-profit Organization
Industry: Colleges, Universities, and Professional Schools
Location: Sioux City, IA

Morningside College is a non-profit organization located at 1501 Morningside Ave in Sioux City, Iowa that received a Coronavirus-related PPP loan from the SBA of $4,042,655.00 in July, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
493Loan Approved:
2020-07-27Lender:
U.S. BANK, NATIONAL ASSOCIATIONMorningside College in Sioux City, IA received a Paycheck Protection Loan of $4.04M through U.S. BANK, NATIONAL ASSOCIATION, which was approved in July, 2020.
Based on standard PPP eligibility rules, Morningside College's total 2019 payroll expenses were approximately $19.4M in order to qualify for the PPP loan amount received.
Based on their reported 493 jobs retained, this equals an estimated average yearly compensation of $39,361 per employee1.
Business Information - Morningside College in Sioux City, IA
1501 Morningside Ave
Sioux City, IA 51106
Business Industry
Colleges, Universities, and Professional Schools (NAICS code 611310)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: IA-04Industry PPP Comparison Statistics
Nationwide, 2,077 businesses in the "Colleges, Universities, and Professional Schools" industry received a total of $1,723,864,433.00 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 86 employees, 83% lower than Morningside College's reported 493 employees, and received an average PPP loan of $829,978, 79% lower than this company's loan of $4.04M.
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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