PPP Loan Data — Hope Therapeutic Services, Minneapolis, MN
Hope Therapeutic Services
Entity: Limited Liability Company (LLC)
Location: Minneapolis, MNTweet This • Search All PPP Data
Hope Therapeutic Services is a limited liability company (LLC) located in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $20,800.00 in June, 2020.
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:Paid in Full or Forgiven
Hope Therapeutic Services in Minneapolis, MN received a Paycheck Protection Loan of $20,800 through Bell Bank, which was approved in June, 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.
Reported PPP Proceed Usage:
On the PPP application, Hope Therapeutic Services reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $20,800
Business Information - Hope Therapeutic Services 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 $20,800).
Similar Nearby Businesses Who Received PPP Funding:
Safari Services LLC
Park Avenue Center Inc
Catalyst Mental Health, Sbc
Walk-In Counseling Center
Learn To Live, Inc
Vickie Jackson Afinni
Nuway House, Inc
Industry PPP Comparison Statistics
Nationwide, 10,748 businesses in the "Outpatient Mental Health and Substance Abuse Centers" industry received a total of $1.82B 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 19 employees, 1800% higher than Hope Therapeutic Services' reported 1 employees, and received an average PPP loan of $169,227, 714% higher than this company's loan of $20,800.
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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