PPP Loan Data — Independent Healthcare Management, Forest, MS
Independent Healthcare Management is a non-profit organization located at 330 North Broad Street in Forest, Mississippi that received a Coronavirus-related PPP loan from the SBA of $2,097,400.00 in April, 2020.
The company has reported itself as a White male owned non-profit, and employed at least 250 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Independent Healthcare Management in Forest, MS received a Paycheck Protection Loan of $2.1M through Peoples Bank, which was approved in April, 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.
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, Independent Healthcare Management's 2019 payroll expenses are estimated to be at least $10.07M.
Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $40,270 per employee1
Reported PPP Proceed Usage:
On the PPP application, Independent Healthcare Management reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,097,400
Business Information - Independent Healthcare Management in Forest, MS
330 North Broad Street
Forest, MS 39074
General Medical and Surgical Hospitals
NAICS code 622110
Business Owner Demographics
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: 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, 86% lower than Independent Healthcare Management's reported 250 employees, and received an average PPP loan of $385,289, 82% lower than this company's loan of $2.1M.
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Footnotes & Information
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