PPP Loan Data — ST. Edward Home, Fairlawn, OH
ST. Edward Home is a non-profit organization located at 3131 Smith Road in Fairlawn, Ohio that received a Coronavirus-related PPP loan from the SBA of $1,844,200.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Citizens Bank, National Association
ST. Edward Home in Fairlawn, OH received a Paycheck Protection Loan of $1.84M through Citizens Bank, National Association, which was approved in April, 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 January, 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, ST. Edward Home's 2019 payroll expenses are estimated to be at least $8.85M.
Based on their reported 300 jobs retained, this equals an estimated average yearly compensation of $29,507 per employee1
Reported PPP Proceed Usage:
On the PPP application, ST. Edward Home reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,844,200
Business Information - ST. Edward Home in Fairlawn, OH
3131 Smith Road
Fairlawn, OH 44333
Continuing Care Retirement Communities
NAICS code 623311
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Fairlawn
In the Fairlawn area, 2 businesses in the "Continuing Care Retirement Communities" industry received a PPP loan. These local businesses reported an average of 168 employees (compared to this company's 300) and received an average PPP loan of $1,011,175 (compared to this company's $1.84M).
Similar Nearby Businesses Who Received PPP Funding:
NXM Akron Operator LLC
Industry PPP Comparison Statistics
Nationwide, 2,718 businesses in the "Continuing Care Retirement Communities" industry received a total of $1.53B 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, 74% lower than ST. Edward Home's reported 300 employees, and received an average PPP loan of $561,944, 70% lower than this company's loan of $1.84M.
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Footnotes & Information
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