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

PPP Loan Data — The Lutheran Home Association, Belle Plaine, MN

SBA PPP loan data, payroll data, and salaries for The Lutheran Home Association
MN Nonprofit Organization

The Lutheran Home Association

Entity: Non-profit Organization

Industry: Nursing Care Facilities (Skilled Nursing Facilities)

Location: Belle Plaine, MN

Search All PPP Data

The Lutheran Home Association is a non-profit organization located at 337 S Meridian Street in Belle Plaine, Minnesota that received a Coronavirus-related PPP loan from the SBA of $2,815,900.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.82M

Jobs Retained:

297

Loan Approved:

2020-04-28

Lender:

FRANDSEN BANK & TRUST

The Lutheran Home Association in Belle Plaine, MN received a Paycheck Protection Loan of $2.82M through FRANDSEN BANK & TRUST, which was approved in April, 2020.

Based on standard PPP eligibility rules, The Lutheran Home Association's total 2019 payroll expenses were approximately $13.52M in order to qualify for the PPP loan amount received.

Based on their reported 297 jobs retained, this equals an estimated average yearly compensation of $45,509 per employee1.

Because the loan received by The Lutheran Home Association 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 Lutheran Home Association in Belle Plaine, MN

The Lutheran Home Association
337 S Meridian Street
Belle Plaine, MN 56011

Business Industry

Nursing Care Facilities (Skilled Nursing Facilities) (NAICS code 623110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MN-02

Industry PPP Comparison Statistics

Nationwide, 9,872 businesses in the "Nursing Care Facilities (Skilled Nursing Facilities)" industry received a total of $5,508,018,433.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 66 employees, 78% lower than The Lutheran Home Association's reported 297 employees, and received an average PPP loan of $557,944, 80% lower than this company's loan of $2.82M.

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.

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.


Have FederalPay.org's open data tools been valuable? Consider donating!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/the-lutheran-home-association-belle-plaine-mn