PPP Loan Data — Foundations Health Solutions LLC, North Olmsted, OH
Foundations Health Solutions LLC is a limited liability company (LLC) located at 25000 Country Club Blvd in North Olmsted, Ohio that received a Coronavirus-related PPP loan from the SBA of $10,000,000.00 in April, 2020.
$ PPP Loan Information
Lender:FIFTH THIRD BANK
Foundations Health Solutions LLC received a Paycheck Protection Loan of $10M through FIFTH THIRD BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Foundations Health Solutions LLC's total 2019 payroll expenses were approximately $48M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $96,000 per employee1.
Business Information - Foundations Health Solutions LLC in North Olmsted, OH
25000 Country Club Blvd
North Olmsted, OH 44070
Professional Employer Organizations (NAICS code 561330)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: OH-16
Similar Companies near North Olmsted
In the North Olmsted area, 2 businesses in the "Professional Employer Organizations" industry received a PPP loan. These local businesses reported an average of 252 employees (compared to this company's 500) and received an average PPP loan of $5,015,520 (compared to this company's $10M).
Similar Nearby Businesses Who Received PPP Funding:
No Ka Oi Managment And Staffing LLC
North Olmsted, OH
Industry PPP Comparison Statistics
Nationwide, 1,298 businesses in the "Professional Employer Organizations" industry received a total of $544,321,819.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 38 employees, 92% lower than Foundations Health Solutions LLC's reported 500 employees, and received an average PPP loan of $419,354, 96% lower than this company's loan of $10M.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.
All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.
Footnotes & Information
1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
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