PPP Loan Data — Siena Heights University, Adrian, MI
Siena Heights University is a non-profit organization located at 1247 E Siena Heights Dr in Adrian, Michigan that received a Coronavirus-related PPP loan from the SBA of $3,771,342.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First American Bank
Siena Heights University in Adrian, MI received a Paycheck Protection Loan of $3.77M through First American Bank, which was approved in May, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in July, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Siena Heights University's 2019 payroll expenses are estimated to be at least $18.1M.
Based on their reported 497 jobs retained, this equals an estimated average yearly compensation of $36,423 per employee1
Reported PPP Proceed Usage:
On the PPP application, Siena Heights University reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,771,342
Business Information - Siena Heights University in Adrian, MI
1247 E Siena Heights Dr
Adrian, MI 49221
Colleges, Universities, and Professional Schools
NAICS code 611310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 3,254 businesses in the "Colleges, Universities, and Professional Schools" industry received a total of $2.07B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 77 employees, 85% lower than Siena Heights University's reported 497 employees, and received an average PPP loan of $636,003, 83% lower than this company's loan of $3.77M.
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Footnotes & Information
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