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PPP Loan Data — Harrison Memorial Hospital, Cynthiana, KY

SBA PPP loan data, payroll data, and salaries for Harrison Memorial Hospital
KY Nonprofit Organization

Harrison Memorial Hospital

Entity: Non-profit Organization

Industry: Business Associations

Location: Cynthiana, KY

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Harrison Memorial Hospital is a non-profit organization located at 1213 Ky Hwy 36 E in Cynthiana, Kentucky that received a Coronavirus-related PPP loan from the SBA of $5,859,300.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$5.86M

Jobs Retained:

465

Loan Approved:

2020-04-08

Lender:

KENTUCKY BANK

Harrison Memorial Hospital received a Paycheck Protection Loan of $5.86M through KENTUCKY BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Harrison Memorial Hospital's total 2019 payroll expenses were approximately $28.12M in order to qualify for the PPP loan amount received.

Based on their reported 465 jobs retained, this equals an estimated average yearly compensation of $60,483 per employee1.

Because the loan received by Harrison Memorial Hospital is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Harrison Memorial Hospital in Cynthiana, KY

Harrison Memorial Hospital
1213 Ky Hwy 36 E
Cynthiana, KY 41031

Business Industry

Business Associations (NAICS code 813910)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: KY-04

Similar Companies near Cynthiana

In the Cynthiana area, 3 businesses in the "Business Associations" industry received a PPP loan. These local businesses reported an average of 158 employees (compared to this company's 465) and received an average PPP loan of $1,963,579 (compared to this company's $5.86M).

Industry PPP Comparison Statistics

Nationwide, 4,372 businesses in the "Business Associations" industry received a total of $459,024,867.00 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 9 employees, 98% lower than Harrison Memorial Hospital's reported 465 employees, and received an average PPP loan of $104,992, 98% lower than this company's loan of $5.86M.

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.

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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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Source: www.federalpay.org/paycheck-protection-program/harrison-memorial-hospital-cynthiana-ky