PPP Loan Data — Hospice Of The Red River Valley, Fargo, ND
Hospice Of The Red River Valley is a non-profit organization located at 1701 38th Street So Suite 101 in Fargo, North Dakota that received a Coronavirus-related PPP loan from the SBA of $2,647,700.00 in April, 2020.
The company has reported itself as a female owned non-profit, and employed at least 203 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Choice Financial Group
Hospice Of The Red River Valley in Fargo, ND received a Paycheck Protection Loan of $2.65M through Choice Financial Group, which was approved in April, 2020.
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, Hospice Of The Red River Valley's 2019 payroll expenses are estimated to be at least $12.71M.
Based on their reported 203 jobs retained, this equals an estimated average yearly compensation of $62,606 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hospice Of The Red River Valley reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,647,700
Business Information - Hospice Of The Red River Valley in Fargo, ND
1701 38th Street So Suite 101
Fargo, ND 58103
Home Health Care Services
NAICS code 621610
Business Owner Demographics
Gender: Female Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Fargo
In the Fargo area, 20 businesses in the "Home Health Care Services" industry received a PPP loan. These local businesses reported an average of 23 employees (compared to this company's 203) and received an average PPP loan of $200,518 (compared to this company's $2.65M).
Similar Nearby Businesses Who Received PPP Funding:
BEK Care, LLC
Sonmar Home Care, LLC
Convenient Home Care LLC
Active At Home Helpers
Tami's Angels Inc
At Your Service Inc
Industry PPP Comparison Statistics
Nationwide, 91,996 businesses in the "Home Health Care Services" industry received a total of $7.67B 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 15 employees, 93% lower than Hospice Of The Red River Valley's reported 203 employees, and received an average PPP loan of $83,373, 97% lower than this company's loan of $2.65M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!