PPP Loan Data — Healthquest Chiropractic & Wellness, Missouri Valley, IA
Healthquest Chiropractic & Wellness is a corporation located at 504 East Erie in Missouri Valley, Iowa that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
The company has reported itself as a female owned business, and employed at least two people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Midstates Bank, National Association
Healthquest Chiropractic & Wellness in Missouri Valley, IA received a Paycheck Protection Loan of $25,000 through Midstates Bank, National Association, which was approved in April, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, Healthquest Chiropractic & Wellness' 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Healthquest Chiropractic & Wellness reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Healthquest Chiropractic & Wellness in Missouri Valley, IA
504 East Erie
Missouri Valley, IA 51555
Offices of Chiropractors
NAICS code 621310
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Missouri Valley
In the Missouri Valley area, 3 businesses in the "Offices of Chiropractors" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 2) and received an average PPP loan of $19,657 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Healthquest Chiropractic & Wellness Center PC
Missouri Valley, IA
The Valley Chiropractor
Missouri Valley, IA
Industry PPP Comparison Statistics
Nationwide, 49,175 businesses in the "Offices of Chiropractors" industry received a total of $1.52B 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 4 employees, 100% higher than Healthquest Chiropractic & Wellness' reported 2 employees, and received an average PPP loan of $30,923, 24% higher than this company's loan of $25,000.
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Footnotes & Information
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