The Arc Of Southern Maryland, Inc. in Prince Frederick, MD - SBA PPP Loan Data (Paycheck Protection Program)

PPP Loan Data — The Arc Of Southern Maryland, Inc., Prince Frederick, MD

MD Nonprofit Organization

The Arc Of Southern Maryland, Inc.

Entity: Non-profit Organization

Industry: Services for the Elderly and Persons with Disabilities

Location: Prince Frederick, MD

The Arc Of Southern Maryland, Inc. is a non-profit organization located at 355 West Dares Beach Road in Prince Frederick, Maryland that received a Coronavirus-related PPP loan from the SBA of $2,831,487.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.83M

Jobs Retained:

325

Loan Approved:

2020-04-13

Lender:

COMMUNITY BANK OF THE CHESAPEAKE

The Arc Of Southern Maryland, Inc. received a Paycheck Protection Loan of $2.83M through COMMUNITY BANK OF THE CHESAPEAKE, which was approved in April, 2020.

Based on standard PPP eligibility rules, The Arc Of Southern Maryland, Inc.'s total 2019 payroll expenses were approximately $13.59M in order to qualify for the PPP loan amount received.

Based on their reported 325 jobs retained, this equals an estimated average yearly compensation of $41,819 per employee¹.

Because the loan received by The Arc Of Southern Maryland, Inc. 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 - The Arc Of Southern Maryland, Inc. in Prince Frederick, MD

The Arc Of Southern Maryland, Inc.
355 West Dares Beach Road
Prince Frederick, MD 20678

Business Industry

Services for the Elderly and Persons with Disabilities (NAICS code 624120)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MD-05

Industry PPP Comparison Statistics

Nationwide, 7,046 businesses in the "Services for the Elderly and Persons with Disabilities" industry received a total of $1,535,554,395.00 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 32 employees, 90% lower than The Arc Of Southern Maryland, Inc.'s reported 325 employees, and received an average PPP loan of $217,933, 92% lower than this company's loan of $2.83M.

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.

Search FederalPay's Full PPP Loan Database

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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