PPP Loan Data — IDA County Iowa Community Hospital, Ida Grove, IA
IDA County Iowa Community Hospital is a non-profit organization located at 701 E 2nd St in Ida Grove, Iowa that received a Coronavirus-related PPP loan from the SBA of $2,155,400.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:United Bank of Iowa
IDA County Iowa Community Hospital in Ida Grove, IA received a Paycheck Protection Loan of $2.16M through United Bank of Iowa, 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, IDA County Iowa Community Hospital's 2019 payroll expenses are estimated to be at least $10.35M.
Based on their reported 164 jobs retained, this equals an estimated average yearly compensation of $63,085 per employee1
Reported PPP Proceed Usage:
On the PPP application, IDA County Iowa Community Hospital reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,083,600
- Utilities: $29,000
- Mortgage Interest: $42,800
Business Information - IDA County Iowa Community Hospital in Ida Grove, IA
701 E 2nd St
Ida Grove, IA 51445
General Medical and Surgical Hospitals
NAICS code 622110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 9,269 businesses in the "General Medical and Surgical Hospitals" industry received a total of $3.57B 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 36 employees, 78% lower than IDA County Iowa Community Hospital's reported 164 employees, and received an average PPP loan of $385,289, 82% lower than this company's loan of $2.16M.
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Footnotes & Information
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