PPP Loan Data — Harbor Beach Community Hospital, Inc, Harbor Beach, MI
Harbor Beach Community Hospital, Inc is a non-profit organization located at 210 S. First St. in Harbor Beach, Michigan that received a Coronavirus-related PPP loan from the SBA of $1,510,898.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Thumb Bank & Trust
Harbor Beach Community Hospital, Inc in Harbor Beach, MI received a Paycheck Protection Loan of $1.51M through Thumb Bank & Trust, 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 April, 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, Harbor Beach Community Hospital, Inc's 2019 payroll expenses are estimated to be at least $7.25M.
Based on their reported 127 jobs retained, this equals an estimated average yearly compensation of $57,105 per employee1
Reported PPP Proceed Usage:
On the PPP application, Harbor Beach Community Hospital, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,266,995
- Utilities: $42,371
- Health Care: $192,115
- Debt Interest: $9,417
Business Information - Harbor Beach Community Hospital, Inc in Harbor Beach, MI
210 S. First St.
Harbor Beach, MI 48441
General Medical and Surgical Hospitals
NAICS code 622110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 9,269 businesses in the "General Medical and Surgical Hospitals" industry received a total of $3.57B 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, 72% lower than Harbor Beach Community Hospital, Inc's reported 127 employees, and received an average PPP loan of $385,289, 74% lower than this company's loan of $1.51M.
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Footnotes & Information
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