PPP Loan Data — Diversified Assessment & Therapy Center, Kenova, WV
Diversified Assessment & Therapy Center
Entity: Subchapter S Corporation
Location: Kenova, WVTweet This • Search All PPP Data
Diversified Assessment & Therapy Center is a subchapter s corporation located at 1401 Chestnut Street in Kenova, West Virginia that received a Coronavirus-related PPP loan from the SBA of $1,878,900.00 in April, 2020.
The company has reported itself as a White female owned business, and employed at least 230 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:The Huntington National Bank
Diversified Assessment & Therapy Center in Kenova, WV received a Paycheck Protection Loan of $1.88M through The Huntington National Bank, which was approved in April, 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 May, 2021.
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, Diversified Assessment & Therapy Center's 2019 payroll expenses are estimated to be at least $9.02M.
Based on their reported 230 jobs retained, this equals an estimated average yearly compensation of $39,212 per employee1
Reported PPP Proceed Usage:
On the PPP application, Diversified Assessment & Therapy Center reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,878,900
Business Information - Diversified Assessment & Therapy Center in Kenova, WV
1401 Chestnut Street
Kenova, WV 25530
Offices of Mental Health Practitioners (except Physicians)
NAICS code 621330
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 35,652 businesses in the "Offices of Mental Health Practitioners (except Physicians)" industry received a total of $1.26B 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 4 employees, 98% lower than Diversified Assessment & Therapy Center's reported 230 employees, and received an average PPP loan of $35,352, 98% lower than this company's loan of $1.88M.
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Footnotes & Information
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