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PPP Loan Data — West Side Deutscher Frauen Verein, Strongsville, OH

SBA PPP loan data, payroll data, and salaries for West Side Deutscher Frauen Verein
OH Nonprofit Organization

West Side Deutscher Frauen Verein

Entity: Non-profit Organization

Industry: Continuing Care Retirement Communities

Location: Strongsville, OH

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West Side Deutscher Frauen Verein is a non-profit organization located at 18627 Shurmer Road in Strongsville, Ohio that received a Coronavirus-related PPP loan from the SBA of $2,492,980.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.49M

Jobs Retained:

353

Loan Approved:

2020-04-11

Lender:

THE HUNTINGTON NATIONAL BANK

West Side Deutscher Frauen Verein in Strongsville, OH received a Paycheck Protection Loan of $2.49M through THE HUNTINGTON NATIONAL BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, West Side Deutscher Frauen Verein's total 2019 payroll expenses were approximately $11.97M in order to qualify for the PPP loan amount received.

Based on their reported 353 jobs retained, this equals an estimated average yearly compensation of $33,899 per employee1.

Because the loan received by West Side Deutscher Frauen Verein 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 - West Side Deutscher Frauen Verein in Strongsville, OH

West Side Deutscher Frauen Verein
18627 Shurmer Road
Strongsville, OH 44136

Business Industry

Continuing Care Retirement Communities (NAICS code 623311)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: OH-16

Similar Companies near Strongsville

In the Strongsville area, 3 businesses in the "Continuing Care Retirement Communities" industry received a PPP loan. These local businesses reported an average of 148 employees (compared to this company's 353) and received an average PPP loan of $937,293 (compared to this company's $2.49M).

Industry PPP Comparison Statistics

Nationwide, 2,172 businesses in the "Continuing Care Retirement Communities" industry received a total of $1,251,764,538.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 69 employees, 80% lower than West Side Deutscher Frauen Verein's reported 353 employees, and received an average PPP loan of $576,319, 77% lower than this company's loan of $2.49M.

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.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/west-side-deutscher-frauen-verein-strongsville-oh