PPP Loan Data — Aitkin Community Hospital Inc, Aitkin, MN
Aitkin Community Hospital Inc is a non-profit organization located at 200 Bunker Hill Drive in Aitkin, Minnesota that received a Coronavirus-related PPP loan from the SBA of $5,608,400.00 in April, 2020.
$ PPP Loan Information
Lender:BREMER BANK, NATIONAL ASSOCIATION
Aitkin Community Hospital Inc in Aitkin, MN received a Paycheck Protection Loan of $5.61M through BREMER BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Aitkin Community Hospital Inc's total 2019 payroll expenses were approximately $26.92M in order to qualify for the PPP loan amount received.
Based on their reported 497 jobs retained, this equals an estimated average yearly compensation of $54,166 per employee1.
Business Information - Aitkin Community Hospital Inc in Aitkin, MN
200 Bunker Hill Drive
Aitkin, MN 56431
General Medical and Surgical Hospitals (NAICS code 622110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MN-08
Industry PPP Comparison Statistics
Nationwide, 6,339 businesses in the "General Medical and Surgical Hospitals" industry received a total of $3,112,462,478.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 40 employees, 92% lower than Aitkin Community Hospital Inc's reported 497 employees, and received an average PPP loan of $491,002, 91% lower than this company's loan of $5.61M.
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.
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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