PPP Loan Data — Judson Retirement Community, Cleveland, OH
Judson Retirement Community is a non-profit organization located at 1801 Chestnut Hills Dr in Cleveland, Ohio that received a Coronavirus-related PPP loan from the SBA of $2,086,982.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:The Huntington National Bank
Judson Retirement Community in Cleveland, OH received a Paycheck Protection Loan of $2.09M through The Huntington National 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, Judson Retirement Community's 2019 payroll expenses are estimated to be at least $10.02M.
Based on their reported 203 jobs retained, this equals an estimated average yearly compensation of $49,347 per employee1
Reported PPP Proceed Usage:
On the PPP application, Judson Retirement Community reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,086,982
Business Information - Judson Retirement Community in Cleveland, OH
1801 Chestnut Hills Dr
Cleveland, OH 44106
Continuing Care Retirement Communities
NAICS code 623311
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
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, 62% lower than Judson Retirement Community's reported 203 employees, and received an average PPP loan of $561,944, 73% lower than this company's loan of $2.09M.
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Footnotes & Information
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