PPP Loan Data — Emergycare, Inc, Erie, PA
Emergycare, Inc is a non-profit organization located at 1926 Peach St. in Erie, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $2,481,845.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Marquette Savings Bank
Emergycare, Inc in Erie, PA received a Paycheck Protection Loan of $2.48M through Marquette Savings 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, Emergycare, Inc's 2019 payroll expenses are estimated to be at least $11.91M.
Based on their reported 284 jobs retained, this equals an estimated average yearly compensation of $41,947 per employee1
Reported PPP Proceed Usage:
On the PPP application, Emergycare, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,481,845
Business Information - Emergycare, Inc in Erie, PA
1926 Peach St.
Erie, PA 16502
NAICS code 621910
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 3,341 businesses in the "Ambulance Services" industry received a total of $860.13M 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 36 employees, 87% lower than Emergycare, Inc's reported 284 employees, and received an average PPP loan of $257,448, 90% lower than this company's loan of $2.48M.
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Footnotes & Information
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