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PPP Loan Data — Naval Academy Athletic Association, Annapolis, MD

SBA PPP loan data, payroll data, and salaries for Naval Academy Athletic Association
MD Nonprofit Organization

Naval Academy Athletic Association

Entity: Non-profit Organization

Industry: Business Associations

Location: Annapolis, MD

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Naval Academy Athletic Association is a non-profit organization located at 566 Brownson Road in Annapolis, Maryland that received a Coronavirus-related PPP loan from the SBA of $2,856,649.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.86M

Jobs Retained:

185

Loan Approved:

2020-04-14

Lender:

TRUIST BANK D/B/A BRANCH BANKING & TRUST CO

Naval Academy Athletic Association in Annapolis, MD received a Paycheck Protection Loan of $2.86M through TRUIST BANK D/B/A BRANCH BANKING & TRUST CO, which was approved in April, 2020.

Based on standard PPP eligibility rules, Naval Academy Athletic Association's total 2019 payroll expenses were approximately $13.71M in order to qualify for the PPP loan amount received.

Based on their reported 185 jobs retained, this equals an estimated average yearly compensation of $74,118 per employee1.

Because the loan received by Naval Academy Athletic Association 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 - Naval Academy Athletic Association in Annapolis, MD

Naval Academy Athletic Association
566 Brownson Road
Annapolis, MD 21402

Business Industry

Business Associations (NAICS code 813910)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MD-03

Similar Companies near Annapolis

In the Annapolis area, 6 businesses in the "Business Associations" industry received a PPP loan. These local businesses reported an average of 46 employees (compared to this company's 185) and received an average PPP loan of $778,167 (compared to this company's $2.86M).

Industry PPP Comparison Statistics

Nationwide, 4,372 businesses in the "Business Associations" industry received a total of $459,024,867.00 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 9 employees, 95% lower than Naval Academy Athletic Association's reported 185 employees, and received an average PPP loan of $104,992, 96% lower than this company's loan of $2.86M.

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/naval-academy-athletic-association-annapolis-md