PPP Loan Data — Indiana Masonic Home, Inc, Franklin, IN
Indiana Masonic Home, Inc is a non-profit organization located at 690 State St in Franklin, Indiana that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:The Peoples State Bank
Indiana Masonic Home, Inc in Franklin, IN received a Paycheck Protection Loan of $2M through The Peoples State Bank, 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, Indiana Masonic Home, Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 318 jobs retained, this equals an estimated average yearly compensation of $30,189 per employee1
Reported PPP Proceed Usage:
On the PPP application, Indiana Masonic Home, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,000,000
Business Information - Indiana Masonic Home, Inc in Franklin, IN
690 State St
Franklin, IN 46131
Continuing Care Retirement Communities
NAICS code 623311
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 2,718 businesses in the "Continuing Care Retirement Communities" industry received a total of $1.53B 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 77 employees, 76% lower than Indiana Masonic Home, Inc's reported 318 employees, and received an average PPP loan of $561,944, 72% lower than this company's loan of $2M.
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Footnotes & Information
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