PPP Loan Data — Bethany Lutheran Homes, Inc, La Crosse, WI
Bethany Lutheran Homes, Inc is a non-profit organization located at 2575 S 7th St in La Crosse, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $1,700,000.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Bethany Lutheran Homes, Inc in La Crosse, WI received a Paycheck Protection Loan of $1.7M through Coulee Bank, which was approved in May, 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 December, 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, Bethany Lutheran Homes, Inc's 2019 payroll expenses are estimated to be at least $8.16M.
Based on their reported 319 jobs retained, this equals an estimated average yearly compensation of $25,580 per employee1
Reported PPP Proceed Usage:
On the PPP application, Bethany Lutheran Homes, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,700,000
Business Information - Bethany Lutheran Homes, Inc in La Crosse, WI
2575 S 7th St
La Crosse, WI 54601
Assisted Living Facilities for the Elderly
NAICS code 623312
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 10,259 businesses in the "Assisted Living Facilities for the Elderly" industry received a total of $1.84B 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 30 employees, 91% lower than Bethany Lutheran Homes, Inc's reported 319 employees, and received an average PPP loan of $179,299, 89% lower than this company's loan of $1.7M.
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Footnotes & Information
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