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PPP Loan Data — Ortonville Area Health Services, Ortonville, MN

SBA PPP loan data, payroll data, and salaries for Ortonville Area Health Services
MN Nonprofit Organization

Ortonville Area Health Services

Entity: Non-profit Organization

Industry: General Medical and Surgical Hospitals

Location: Ortonville, MN

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Ortonville Area Health Services is a non-profit organization located at 450 Eastvold Avenue in Ortonville, Minnesota that received a Coronavirus-related PPP loan from the SBA of $2,521,431.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.52M

Jobs Retained:

286

Loan Approved:

2020-04-28

Lender:

FRANDSEN BANK & TRUST

Ortonville Area Health Services in Ortonville, MN received a Paycheck Protection Loan of $2.52M through FRANDSEN BANK & TRUST, which was approved in April, 2020.

Based on standard PPP eligibility rules, Ortonville Area Health Services' total 2019 payroll expenses were approximately $12.1M in order to qualify for the PPP loan amount received.

Based on their reported 286 jobs retained, this equals an estimated average yearly compensation of $42,318 per employee1.

Because the loan received by Ortonville Area Health Services 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 - Ortonville Area Health Services in Ortonville, MN

Ortonville Area Health Services
450 Eastvold Avenue
Ortonville, MN 56278

Business Industry

General Medical and Surgical Hospitals (NAICS code 622110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MN-07

Similar Companies near Ortonville

In the Ortonville area, 3 businesses in the "General Medical and Surgical Hospitals" industry received a PPP loan. These local businesses reported an average of 98 employees (compared to this company's 286) and received an average PPP loan of $892,420 (compared to this company's $2.52M).

Industry PPP Comparison Statistics

Nationwide, 6,339 businesses in the "General Medical and Surgical Hospitals" industry received a total of $3,112,462,478.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 40 employees, 86% lower than Ortonville Area Health Services' reported 286 employees, and received an average PPP loan of $491,002, 81% lower than this company's loan of $2.52M.

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.

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/ortonville-area-health-services-ortonville-mn