PPP Loan Data — Good Shepherd Geriatric Center Inc, Mason City, IA
Good Shepherd Geriatric Center Inc is a non-profit organization located at 302 2nd Street Ne in Mason City, Iowa that received a Coronavirus-related PPP loan from the SBA of $2,345,800.00 in April, 2020.
The company has reported itself as a White male owned non-profit, and employed at least 319 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Good Shepherd Geriatric Center Inc in Mason City, IA received a Paycheck Protection Loan of $2.35M through NSB 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 June, 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, Good Shepherd Geriatric Center Inc's 2019 payroll expenses are estimated to be at least $11.26M.
Based on their reported 319 jobs retained, this equals an estimated average yearly compensation of $35,297 per employee1
Reported PPP Proceed Usage:
On the PPP application, Good Shepherd Geriatric Center Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,345,800
Business Information - Good Shepherd Geriatric Center Inc in Mason City, IA
302 2nd Street Ne
Mason City, IA 50401
Continuing Care Retirement Communities
NAICS code 623311
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 2,718 businesses in the "Continuing Care Retirement Communities" industry received a total of $1.53B 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 77 employees, 76% lower than Good Shepherd Geriatric Center Inc's reported 319 employees, and received an average PPP loan of $561,944, 76% lower than this company's loan of $2.35M.
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Footnotes & Information
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