PPP Loan Data — Canterbury Health Care Inc, Waterford, MI
Canterbury Health Care Inc is a non-profit organization located at 5601 Hatchery Rd in Waterford, Michigan that received a Coronavirus-related PPP loan from the SBA of $1,919,443.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:The Huntington National Bank
Canterbury Health Care Inc in Waterford, MI received a Paycheck Protection Loan of $1.92M through The Huntington National 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, Canterbury Health Care Inc's 2019 payroll expenses are estimated to be at least $9.21M.
Based on their reported 246 jobs retained, this equals an estimated average yearly compensation of $37,453 per employee1
Reported PPP Proceed Usage:
On the PPP application, Canterbury Health Care Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,919,443
Business Information - Canterbury Health Care Inc in Waterford, MI
5601 Hatchery Rd
Waterford, MI 48329
Continuing Care Retirement Communities
NAICS code 623311
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Waterford
In the Waterford area, 2 businesses in the "Continuing Care Retirement Communities" industry received a PPP loan. These local businesses reported an average of 273 employees (compared to this company's 246) and received an average PPP loan of $1,985,222 (compared to this company's $1.92M).
Similar Nearby Businesses Who Received PPP Funding:
Dominican Health Care Corp
Industry PPP Comparison Statistics
Nationwide, 2,718 businesses in the "Continuing Care Retirement Communities" industry received a total of $1.53B 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 Canterbury Health Care Inc's reported 246 employees, and received an average PPP loan of $561,944, 71% lower than this company's loan of $1.92M.
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Footnotes & Information
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