PPP Loan Data — Midland University, Fremont, NE
NE Nonprofit Organization
Entity: Non-profit Organization
Industry: Colleges, Universities, and Professional Schools
Location: Fremont, NE
Midland University is a non-profit organization located at 900 N Clarkson St in Fremont, Nebraska that received a Coronavirus-related PPP loan from the SBA of $2,602,000.00 in April, 2020.
Foundation One Bank
Midland University in Fremont, NE received a Paycheck Protection Loan of $2.6M through Foundation One Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in September, 2021.
For Midland University, the calculation used to estimate payroll costs is shown below:
($2.6M / 2.5) * 12 = $12.49M
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, Midland University's 2019 payroll expenses are estimated to be at least $12.49M.
On the PPP application, Midland University reported intending to use the proceeds of their PPP loan for the following expenses:
Because the loan received by Midland University 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 - Midland University in Fremont, NE
900 N Clarkson St
Fremont, NE 68025
Colleges, Universities, and Professional Schools
Dodge County, NE — SBA Office 0766 — Congressional District: NE-01
Nationwide, 3,254 businesses in the "Colleges, Universities, and Professional Schools" industry received a total of $2.07B 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 77 employees, 69% lower than Midland University's reported 250 employees, and received an average PPP loan of $636,003, 76% lower than this company's loan of $2.6M.
Source: www.federalpay.org/paycheck-protection-program/midland-university-fremont-ne