PPP Loan Data — Hope Therapeutic Services LLC, Minneapolis, MN
Hope Therapeutic Services LLC
Entity: Limited Liability Company (LLC)
Location: Minneapolis, MNTweet This • Search All PPP Data
Hope Therapeutic Services LLC is a limited liability company (LLC) located in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $20,833.00 in February, 2021.
The company has reported itself as a Black or african american male owned business, and employed at least one person during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:African Development Center
Hope Therapeutic Services LLC in Minneapolis, MN received a Paycheck Protection Loan of $20,833 through African Development Center, which was approved in February, 2021.
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.
Reported PPP Proceed Usage:
On the PPP application, Hope Therapeutic Services LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $20,833
Business Information - Hope Therapeutic Services LLC in Minneapolis, MN
* Full address is redacted to protect the privacy of individuals.
Outpatient Mental Health and Substance Abuse Centers
NAICS code 621420
Business Owner Demographics
Race: Black or African American
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Minneapolis
In the Minneapolis area, 12 businesses in the "Outpatient Mental Health and Substance Abuse Centers" industry received a PPP loan. These local businesses reported an average of 50 employees (compared to this company's 1) and received an average PPP loan of $617,036 (compared to this company's $20,833).
Similar Nearby Businesses Who Received PPP Funding:
Park Avenue Center Inc
Community Resource For Education, Alternative Treatments And
Vickie Jackson Afinni
Hope Therapeutic Services
Safari Services LLC
Nuway House, Inc
Catalyst Mental Health, Sbc
Learn To Live, Inc
Industry PPP Comparison Statistics
Nationwide, 11,404 businesses in the "Outpatient Mental Health and Substance Abuse Centers" industry received a total of $1.83B 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 18 employees, 1700% higher than Hope Therapeutic Services LLC's reported 1 employees, and received an average PPP loan of $160,750, 672% higher than this company's loan of $20,833.
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. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. 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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