PPP Loan Data — Lake Psychology Services LLC, Indiana, PA
Lake Psychology Services LLC
Entity: Limited Liability Company (LLC)
Location: Indiana, PATweet This • Search All PPP Data
Lake Psychology Services LLC is a limited liability company (LLC) located at 163 Plaza Rd in Indiana, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $45,900.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lake Psychology Services LLC in Indiana, PA received a Paycheck Protection Loan of $45,900 through InFirst 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 December, 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, Lake Psychology Services LLC's 2019 payroll expenses are estimated to be at least $220,320.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $36,720 per employee1
Reported PPP Proceed Usage:
On the PPP application, Lake Psychology Services LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,900
Business Information - Lake Psychology Services LLC in Indiana, PA
163 Plaza Rd
Indiana, PA 15701
Offices of Mental Health Practitioners (except Physicians)
NAICS code 621330
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, 35,652 businesses in the "Offices of Mental Health Practitioners (except Physicians)" industry received a total of $1.26B 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 4 employees, 33% lower than Lake Psychology Services LLC's reported 6 employees, and received an average PPP loan of $35,352, 23% lower than this company's loan of $45,900.
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Footnotes & Information
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