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PPP Loan Data — VFW Post 6027, North East, MD

SBA PPP loan data, payroll data, and salaries for VFW Post 6027
MD Nonprofit Organization

VFW Post 6027

Entity: Non-profit Organization

Industry: Civic and Social Organizations

Location: North East, MD

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VFW Post 6027 is a non-profit organization located at 815 Turkey Point Rd in North East, Maryland that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.

$ PPP Loan Information
Loan #9230007306

Loan Size:

$25,000

Jobs Retained:

15

Loan Approved:

2020-05-01

Loan Status:

Ongoing Loan

Lender:

PNC Bank, National Association

VFW Post 6027 in North East, MD received a Paycheck Protection Loan of $25,000 through PNC Bank, National Association, which was approved in May, 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, VFW Post 6027's 2019 payroll expenses are estimated to be at least $120,000.

Based on their reported 15 jobs retained, this equals an estimated average yearly compensation of $8,000 per employee1

Reported PPP Proceed Usage:

On the PPP application, VFW Post 6027 reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $25,000

Business Information - VFW Post 6027 in North East, MD

VFW Post 6027
815 Turkey Point Rd
North East, MD 21901

Business Industry:
Civic and Social Organizations
NAICS code 813410

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age:

LMI Zone: N

HUBZone: N

Rural / Urban: Rural

Cecil County, MD — SBA Office 0373 — Congressional District: MD-01

Similar Companies near North East

In the North East area, 2 businesses in the "Civic and Social Organizations" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 15) and received an average PPP loan of $22,900 (compared to this company's $25,000).

Similar Nearby Businesses Who Received PPP Funding:

Ecoscience Solutions LLC
North East, MD

$20,800 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 18,550 businesses in the "Civic and Social Organizations" industry received a total of $2.6B 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 20 employees, 33% higher than VFW Post 6027's reported 15 employees, and received an average PPP loan of $140,085, 460% higher than this company's loan of $25,000.

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.

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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/vfw-post-6027-north-east-md