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PPP Loan Data — Waverly Health Center, Waverly, IA

SBA PPP loan data, payroll data, and salaries for Waverly Health Center
IA Nonprofit Organization

Waverly Health Center

Entity: Non-profit Organization

Industry: General Medical and Surgical Hospitals

Location: Waverly, IA

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Waverly Health Center is a non-profit organization located at 312 9th St Sw in Waverly, Iowa that received a Coronavirus-related PPP loan from the SBA of $5,553,300.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$5.55M

Jobs Retained:

493

Loan Approved:

2020-04-14

Lender:

FIRST BANK

Waverly Health Center received a Paycheck Protection Loan of $5.55M through FIRST BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Waverly Health Center's total 2019 payroll expenses were approximately $26.66M in order to qualify for the PPP loan amount received.

Based on their reported 493 jobs retained, this equals an estimated average yearly compensation of $54,069 per employee1.

Because the loan received by Waverly Health Center 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 - Waverly Health Center in Waverly, IA

Waverly Health Center
312 9th St Sw
Waverly, IA 50677

Business Industry

General Medical and Surgical Hospitals (NAICS code 622110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: IA-01

Industry PPP Comparison Statistics

Nationwide, 6,339 businesses in the "General Medical and Surgical Hospitals" industry received a total of $3,112,462,478.00 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 40 employees, 92% lower than Waverly Health Center's reported 493 employees, and received an average PPP loan of $491,002, 91% lower than this company's loan of $5.55M.

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.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/waverly-health-center-waverly-ia