PPP Loan Data — Wilmington College, Wilmington, OH
Wilmington College is a non-profit organization located at 1870 Quaker Way in Wilmington, Ohio that received a Coronavirus-related PPP loan from the SBA of $2,278,400.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Wilmington College in Wilmington, OH received a Paycheck Protection Loan of $2.28M through Peoples Bank, which was approved in April, 2020.
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, Wilmington College's 2019 payroll expenses are estimated to be at least $10.94M.
Based on their reported 444 jobs retained, this equals an estimated average yearly compensation of $24,631 per employee1
Reported PPP Proceed Usage:
On the PPP application, Wilmington College reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,708,800
- Utilities: $284,800
- Mortgage Interest: $284,800
Business Information - Wilmington College in Wilmington, OH
1870 Quaker Way
Wilmington, OH 45177
Colleges, Universities, and Professional Schools
NAICS code 611310
Business Owner Demographics
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 3,280 businesses in the "Colleges, Universities, and Professional Schools" industry received a total of $2.08B 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 76 employees, 83% lower than Wilmington College's reported 444 employees, and received an average PPP loan of $633,118, 72% lower than this company's loan of $2.28M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!