MERCY CORPS
PPP Loan approved Apr 15, 2020 through U.S. Bank, National Association
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $7,611,565.00 | 100.0% |
About This Loan
MERCY CORPS received a PPP loan of $7,611,565 approved on Apr 15, 2020. The loan was originated by U.S. Bank, National Association.
MERCY CORPS is a non-profit organization located in PORTLAND, Oregon. At the time of the application, the business was described as "existing or more than 2 years old". This organization is classified as a non-profit.
The business operates in the Social Advocacy Organizations industry (NAICS 813311), part of the Other Services (except Public Administration) sector of the economy. The applicant reported 402 jobs as retained through this loan.
The SBA forgave $7,700,155.16 of this loan — 101.2% of the total approved amount, with forgiveness recorded on Jun 17, 2021. This means the borrower was not required to repay this portion, having satisfied the PPP's eligibility criteria for forgiveness, including maintaining payroll levels and using the funds for qualified expenses.
According to the SBA's records, the proceeds of this loan were allocated as follows: $7,611,565 to payroll. The payroll component represents 100.0% of disclosed proceeds, consistent with the program's requirement that at least 60% of loan funds be used for payroll costs to qualify for full forgiveness.
This loan is one of millions approved nationwide during the COVID-19 pandemic. To explore other recipients in Oregon, visit the Oregon page. To compare this loan with others in the same industry, see the Social Advocacy Organizations industry page.