PPP Loan Data — Fellowship Health Resources Inc, Lincoln, RI
Fellowship Health Resources Inc
Entity: Non-profit Organization
Location: Lincoln, RITweet This • Search All PPP Data
Fellowship Health Resources Inc is a non-profit organization located at 24 Albion Road Suite 420 in Lincoln, Rhode Island that received a Coronavirus-related PPP loan from the SBA of $3,239,500.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Citizens Bank, National Association
Fellowship Health Resources Inc in Lincoln, RI received a Paycheck Protection Loan of $3.24M through Citizens Bank, National Association, 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, Fellowship Health Resources Inc's 2019 payroll expenses are estimated to be at least $15.55M.
Based on their reported 439 jobs retained, this equals an estimated average yearly compensation of $35,421 per employee1
Reported PPP Proceed Usage:
On the PPP application, Fellowship Health Resources Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,239,500
Business Information - Fellowship Health Resources Inc in Lincoln, RI
24 Albion Road Suite 420
Lincoln, RI 2865
Residential Mental Health and Substance Abuse Facilities
NAICS code 623220
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 3,600 businesses in the "Residential Mental Health and Substance Abuse Facilities" industry received a total of $1.06B 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, 92% lower than Fellowship Health Resources Inc's reported 439 employees, and received an average PPP loan of $295,104, 91% lower than this company's loan of $3.24M.
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Footnotes & Information
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