PPP Loan Data — Detroit Nursing Center, LLC, Dearborn Heights, MI
Detroit Nursing Center, LLC
Entity: Limited Liability Company (LLC)
Location: Dearborn Heights, MITweet This • Search All PPP Data
Detroit Nursing Center, LLC is a limited liability company (LLC) located at 26505 Powers Ave in Dearborn Heights, Michigan that received a Coronavirus-related PPP loan from the SBA of $1,865,351.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:CIBC Bank USA
Detroit Nursing Center, LLC in Dearborn Heights, MI received a Paycheck Protection Loan of $1.87M through CIBC Bank USA, which was approved in May, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, Detroit Nursing Center, LLC's 2019 payroll expenses are estimated to be at least $8.95M.
Based on their reported 215 jobs retained, this equals an estimated average yearly compensation of $41,645 per employee1
Reported PPP Proceed Usage:
On the PPP application, Detroit Nursing Center, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,865,351
Business Information - Detroit Nursing Center, LLC in Dearborn Heights, MI
26505 Powers Ave
Dearborn Heights, MI 48125
Nursing Care Facilities (Skilled Nursing Facilities)
NAICS code 623110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Dearborn Heights
In the Dearborn Heights area, 3 businesses in the "Nursing Care Facilities (Skilled Nursing Facilities)" industry received a PPP loan. These local businesses reported an average of 74 employees (compared to this company's 215) and received an average PPP loan of $660,363 (compared to this company's $1.87M).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 15,360 businesses in the "Nursing Care Facilities (Skilled Nursing Facilities)" industry received a total of $6.8B 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 60 employees, 72% lower than Detroit Nursing Center, LLC's reported 215 employees, and received an average PPP loan of $442,944, 76% lower than this company's loan of $1.87M.
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Footnotes & Information
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