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PPP Loan Data — Mount Olivet Rolling Acres, Inc., Victoria, MN

SBA PPP loan data, payroll data, and salaries for Mount Olivet Rolling Acres, Inc.
MN Nonprofit Organization

Mount Olivet Rolling Acres, Inc.

Entity: Non-profit Organization

Industry: Residential Intellectual and Developmental Disability Facilities

Location: Victoria, MN

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Mount Olivet Rolling Acres, Inc. is a non-profit organization located at 7200 Rolling Acres Rd in Victoria, Minnesota that received a Coronavirus-related PPP loan from the SBA of $3,329,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.33M

Jobs Retained:

396

Loan Approved:

2020-04-10

Lender:

OLD NATIONAL BANK

Mount Olivet Rolling Acres, Inc. in Victoria, MN received a Paycheck Protection Loan of $3.33M through OLD NATIONAL BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Mount Olivet Rolling Acres, Inc.'s total 2019 payroll expenses were approximately $15.98M in order to qualify for the PPP loan amount received.

Based on their reported 396 jobs retained, this equals an estimated average yearly compensation of $40,352 per employee1.

Because the loan received by Mount Olivet Rolling Acres, Inc. 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 - Mount Olivet Rolling Acres, Inc. in Victoria, MN

Mount Olivet Rolling Acres, Inc.
7200 Rolling Acres Rd
Victoria, MN 55386

Business Industry

Residential Intellectual and Developmental Disability Facilities (NAICS code 623210)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MN-03

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, 85% lower than Mount Olivet Rolling Acres, Inc.'s reported 396 employees, and received an average PPP loan of $471,460, 86% lower than this company's loan of $3.33M.

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.

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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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Source: www.federalpay.org/paycheck-protection-program/mount-olivet-rolling-acres-inc-victoria-mn