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PPP Loan Data — Mount Olivet Rolling Acres, Inc.,
Victoria, MN
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:
Jobs Retained:
396Loan Approved:
2020-04-10Lender:
OLD NATIONAL BANKMount 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.
Business Information - Mount Olivet Rolling Acres, Inc. in Victoria, MN
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-03Industry 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.
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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