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PPP Loan Data — Welia Health, Mora, MN

SBA PPP loan data, payroll data, and salaries for Welia Health
MN Nonprofit Organization

Welia Health

Entity: Non-profit Organization

Industry: Offices of All Other Miscellaneous Health Practitioners

Location: Mora, MN

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Welia Health is a non-profit organization located at 301 Highway 65 in Mora, Minnesota that received a Coronavirus-related PPP loan from the SBA of $5,825,300.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$5.83M

Jobs Retained:

419

Loan Approved:

2020-04-28

Lender:

FIRST CITIZENS BANK

Welia Health received a Paycheck Protection Loan of $5.83M through FIRST CITIZENS BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Welia Health's total 2019 payroll expenses were approximately $27.96M in order to qualify for the PPP loan amount received.

Based on their reported 419 jobs retained, this equals an estimated average yearly compensation of $66,734 per employee1.

Because the loan received by Welia Health 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 - Welia Health in Mora, MN

Welia Health
301 Highway 65
Mora, MN 55051

Business Industry

Offices of All Other Miscellaneous Health Practitioners (NAICS code 621399)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MN-08

Similar Companies near Mora

In the Mora area, 2 businesses in the "Offices of All Other Miscellaneous Health Practitioners" industry received a PPP loan. These local businesses reported an average of 210 employees (compared to this company's 419) and received an average PPP loan of $2,915,307 (compared to this company's $5.83M).

Similar Nearby Businesses Who Received PPP Funding:

Corrine Thomas
Mora, MN

$5,314 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 30,902 businesses in the "Offices of All Other Miscellaneous Health Practitioners" industry received a total of $1,607,882,026.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 5 employees, 99% lower than Welia Health's reported 419 employees, and received an average PPP loan of $52,032, 99% lower than this company's loan of $5.83M.

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.

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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/welia-health-mora-mn