PPP Loan Data — Family Support Center, Inc, Chippewa Falls, WI
Family Support Center, Inc is a non-profit organization located at 403 North High St in Chippewa Falls, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:The Northwestern Bank
Family Support Center, Inc in Chippewa Falls, WI received a Paycheck Protection Loan of $25,000 through The Northwestern 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, Family Support Center, Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 22 jobs retained, this equals an estimated average yearly compensation of $5,455 per employee1
Reported PPP Proceed Usage:
On the PPP application, Family Support Center, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Family Support Center, Inc in Chippewa Falls, WI
403 North High St
Chippewa Falls, WI 54729
Other Individual and Family Services
NAICS code 624190
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Chippewa Falls
In the Chippewa Falls area, 4 businesses in the "Other Individual and Family Services" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 22) and received an average PPP loan of $27,877 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Chippewa Family Services
Chippewa Falls, WI
Chippewa Falls, WI
Industry PPP Comparison Statistics
Nationwide, 25,118 businesses in the "Other Individual and Family Services" industry received a total of $2.96B 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 16 employees, 27% lower than Family Support Center, Inc's reported 22 employees, and received an average PPP loan of $117,860, 371% higher than this company's loan of $25,000.
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Footnotes & Information
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