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PPP Loan Data — Shaw University, Raleigh, NC

SBA PPP loan data, payroll data, and salaries for Shaw University
NC Nonprofit Organization

Shaw University

Entity: Non-profit Organization

Industry: Colleges, Universities, and Professional Schools

Location: Raleigh, NC

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Shaw University is a non-profit organization located at 118 East South Street in Raleigh, North Carolina that received a Coronavirus-related PPP loan from the SBA of $2,695,300.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.7M

Jobs Retained:

304

Loan Approved:

2020-04-06

Lender:

MECHANICS & FARMERS BANK

Shaw University in Raleigh, NC received a Paycheck Protection Loan of $2.7M through MECHANICS & FARMERS BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Shaw University's total 2019 payroll expenses were approximately $12.94M in order to qualify for the PPP loan amount received.

Based on their reported 304 jobs retained, this equals an estimated average yearly compensation of $42,557 per employee1.

Because the loan received by Shaw University 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 - Shaw University in Raleigh, NC

Shaw University
118 East South Street
Raleigh, NC 27601

Business Industry

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

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NC-04

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, 72% lower than Shaw University's reported 304 employees, and received an average PPP loan of $829,978, 69% lower than this company's loan of $2.7M.

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/shaw-university-raleigh-nc