PPP Loan Data — University Of Mobile, Eight Mile, AL
University Of Mobile is a non-profit organization located at 5735 College Pkwy in Eight Mile, Alabama that received a Coronavirus-related PPP loan from the SBA of $2,463,400.00 in April, 2020.
The company has reported itself as a male owned non-profit, and employed at least 250 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Community Bank of Mississippi
University Of Mobile in Eight Mile, AL received a Paycheck Protection Loan of $2.46M through Community Bank of Mississippi, 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 August, 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, University Of Mobile's 2019 payroll expenses are estimated to be at least $11.82M.
Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $47,297 per employee1
Reported PPP Proceed Usage:
On the PPP application, University Of Mobile reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,847,654
- Utilities: $369,588
- Health Care: $246,158
Business Information - University Of Mobile in Eight Mile, AL
5735 College Pkwy
Eight Mile, AL 36613
Colleges, Universities, and Professional Schools
NAICS code 611310
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as University Of Mobile.
All Other Professional, Scientific, and Technical Services
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, 69% lower than University Of Mobile's reported 250 employees, and received an average PPP loan of $636,003, 74% lower than this company's loan of $2.46M.
FederalPay's PPP Information Policy
Footnotes & Information
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