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PPP Loan Data — North Carolina Wesleyan College, Incorporated, Rocky Mount, NC

SBA PPP loan data, payroll data, and salaries for North Carolina Wesleyan College, Incorporated
NC Nonprofit Organization

North Carolina Wesleyan College, Incorporated

Entity: Non-profit Organization

Industry: Colleges, Universities, and Professional Schools

Location: Rocky Mount, NC

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North Carolina Wesleyan College, Incorporated is a non-profit organization located at 3400 N Wesleyan Blvd in Rocky Mount, North Carolina that received a Coronavirus-related PPP loan from the SBA of $3,021,500.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.02M

Jobs Retained:

0 Unreported

Loan Approved:

2020-04-10

Lender:

LIVE OAK BANKING COMPANY

North Carolina Wesleyan College, Incorporated received a Paycheck Protection Loan of $3.02M through LIVE OAK BANKING COMPANY, which was approved in April, 2020.

Based on standard PPP eligibility rules, North Carolina Wesleyan College, Incorporated's total 2019 payroll expenses were approximately $14.5M in order to qualify for the PPP loan amount received.

Unlike most businesses, North Carolina Wesleyan College, Incorporated's PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.

Because the loan received by North Carolina Wesleyan College, Incorporated 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 - North Carolina Wesleyan College, Incorporated in Rocky Mount, NC

North Carolina Wesleyan College, Incorporated
3400 N Wesleyan Blvd
Rocky Mount, NC 27804

Business Industry

Colleges, Universities, and Professional Schools (NAICS code 611310)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NC-02

Industry 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, and received an average PPP loan of $829,978, 73% lower than this company's loan of $3.02M.

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.

Search FederalPay's Full PPP Loan Database

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/north-carolina-wesleyan-college-incorporated-rocky-mount-nc