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PPP Loan Data — Palmer College Foundation,
Davenport, IA
Palmer College Foundation
Entity: Non-profit Organization
Industry: Colleges, Universities, and Professional Schools
Location: Davenport, IA
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Palmer College Foundation is a non-profit organization located at 1000 Brady Street in Davenport, Iowa that received a Coronavirus-related PPP loan from the SBA of $6,256,000.00 in May, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
421Loan Approved:
2020-05-09Lender:
QUAD CITY BANK AND TRUST COMPANYPalmer College Foundation received a Paycheck Protection Loan of $6.26M through QUAD CITY BANK AND TRUST COMPANY, which was approved in May, 2020.
Based on standard PPP eligibility rules, Palmer College Foundation's total 2019 payroll expenses were approximately $30.03M in order to qualify for the PPP loan amount received.
Based on their reported 421 jobs retained, this equals an estimated average yearly compensation of $71,327 per employee1.
Business Information - Palmer College Foundation in Davenport, IA
1000 Brady Street
Davenport, IA 52803
Business Industry
Colleges, Universities, and Professional Schools (NAICS code 611310)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: IA-02Industry 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, 80% lower than Palmer College Foundation's reported 421 employees, and received an average PPP loan of $829,978, 87% lower than this company's loan of $6.26M.
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.
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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