PPP Loan Data — Jasper General Hospital, Bay Springs, MS
Jasper General Hospital is a non-profit organization located at P O Box 527 in Bay Springs, Mississippi that received a Coronavirus-related PPP loan from the SBA of $1,796,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Magnolia State Bank
Jasper General Hospital in Bay Springs, MS received a Paycheck Protection Loan of $1.8M through Magnolia State Bank, which was approved in April, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, Jasper General Hospital's 2019 payroll expenses are estimated to be at least $8.62M.
Based on their reported 247 jobs retained, this equals an estimated average yearly compensation of $34,902 per employee1
Reported PPP Proceed Usage:
On the PPP application, Jasper General Hospital reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,796,000
Business Information - Jasper General Hospital in Bay Springs, MS
P O Box 527
Bay Springs, MS 39422
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, 85% lower than Jasper General Hospital's reported 247 employees, and received an average PPP loan of $385,289, 79% lower than this company's loan of $1.8M.
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Footnotes & Information
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