PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Southern Virginia University, Buena Vista, VA

ALERT: There are 2 PPP loans for a total of $4.4M in our database for businesses with the name "Southern Virginia University" in Buena Vista, VA. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Southern Virginia University
VA Nonprofit Organization

Southern Virginia University

Entity: Non-profit Organization

Industry: Colleges, Universities, and Professional Schools

Location: Buena Vista, VA

Search All PPP Data

Southern Virginia University is a non-profit organization located at 1 University Hill Dr in Buena Vista, Virginia that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in April, 2021.

$ PPP Loan Information
Loan #1224028806

Loan Size:

$2M

Jobs Retained:

289

Loan Approved:

2021-04-09

Loan Status:

Active Un-Disbursed

Lender:

The Old Point National Bank of Phoebus
PPP Funds Undisbursed

Southern Virginia University in Buena Vista, VA received a Paycheck Protection Loan of $2M through The Old Point National Bank of Phoebus, which was approved in April, 2021.

While this loan has been approved by the Small Business Administration, the lender has not reported to the SBA that the loan funds were disbursed to the borrower. According to SBA records, a total of $2M in approved PPP funding has not been disbursed. The loan's status was last updated by the SBA in April, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Southern Virginia University's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 289 jobs retained, this equals an estimated average yearly compensation of $33,218 per employee1

Reported PPP Proceed Usage:

On the PPP application, Southern Virginia University reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,999,997
  • Utilities: $1
Because the loan received by Southern Virginia 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 - Southern Virginia University in Buena Vista, VA

Southern Virginia University
1 University Hill Dr
Buena Vista, VA 24416

Business Industry:
Colleges, Universities, and Professional Schools
NAICS code 611310

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Buena Vista City County, VA — SBA Office 0304 — Congressional District: VA-06

Industry PPP Comparison Statistics

Nationwide, 3,280 businesses in the "Colleges, Universities, and Professional Schools" industry received a total of $2.08B 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 76 employees, 74% lower than Southern Virginia University's reported 289 employees, and received an average PPP loan of $633,118, 68% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for Southern Virginia University
VA Nonprofit Organization

Southern Virginia University

Entity: Non-profit Organization

Industry: Colleges, Universities, and Professional Schools

Location: Buena Vista, VA

Search All PPP Data

Southern Virginia University is a non-profit organization located at 1 University Hill Dr in Buena Vista, Virginia that received a Coronavirus-related PPP loan from the SBA of $2,398,400.00 in April, 2020.

$ PPP Loan Information
Loan #8163147002

Loan Size:

$2.4M

Jobs Retained:

375

Loan Approved:

2020-04-08

Loan Status:

Ongoing Loan

Lender:

The Old Point National Bank of Phoebus

Southern Virginia University in Buena Vista, VA received a Paycheck Protection Loan of $2.4M through The Old Point National Bank of Phoebus, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Southern Virginia University's 2019 payroll expenses are estimated to be at least $11.51M.

Based on their reported 375 jobs retained, this equals an estimated average yearly compensation of $30,700 per employee1

Reported PPP Proceed Usage:

On the PPP application, Southern Virginia University reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,204,700
  • Utilities: $125,300
  • Mortgage Interest: $68,400
Because the loan received by Southern Virginia 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 - Southern Virginia University in Buena Vista, VA

Southern Virginia University
1 University Hill Dr
Buena Vista, VA 24416

Business Industry:
Colleges, Universities, and Professional Schools
NAICS code 611310

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Buena Vista City County, VA — SBA Office 0304 — Congressional District: VA-06

Industry PPP Comparison Statistics

Nationwide, 3,280 businesses in the "Colleges, Universities, and Professional Schools" industry received a total of $2.08B 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 76 employees, 80% lower than Southern Virginia University's reported 375 employees, and received an average PPP loan of $633,118, 74% lower than this company's loan of $2.4M.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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/southern-virginia-university-buena-vista-va