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PPP Loan Data — Lakewood Manor Baptist Retirement Community, Inc., Henrico, VA

SBA PPP loan data, payroll data, and salaries for Lakewood Manor Baptist Retirement Community, Inc.
VA Nonprofit Organization

Lakewood Manor Baptist Retirement Community, Inc.

Entity: Non-profit Organization

Industry: Nursing Care Facilities (Skilled Nursing Facilities)

Location: Henrico, VA

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Lakewood Manor Baptist Retirement Community, Inc. is a non-profit organization located at 1900 Lauderdale Dr in Henrico, Virginia that received a Coronavirus-related PPP loan from the SBA of $2,572,842.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.57M

Jobs Retained:

393

Loan Approved:

2020-04-09

Lender:

TRUIST BANK D/B/A BRANCH BANKING & TRUST CO

Lakewood Manor Baptist Retirement Community, Inc. in Henrico, VA received a Paycheck Protection Loan of $2.57M through TRUIST BANK D/B/A BRANCH BANKING & TRUST CO, which was approved in April, 2020.

Based on standard PPP eligibility rules, Lakewood Manor Baptist Retirement Community, Inc.'s total 2019 payroll expenses were approximately $12.35M in order to qualify for the PPP loan amount received.

Based on their reported 393 jobs retained, this equals an estimated average yearly compensation of $31,424 per employee1.

Because the loan received by Lakewood Manor Baptist Retirement Community, Inc. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Lakewood Manor Baptist Retirement Community, Inc. in Henrico, VA

Lakewood Manor Baptist Retirement Community, Inc.
1900 Lauderdale Dr
Henrico, VA 23238

Business Industry

Nursing Care Facilities (Skilled Nursing Facilities) (NAICS code 623110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: VA-07

Similar Companies near Henrico

In the Henrico area, 2 businesses in the "Nursing Care Facilities (Skilled Nursing Facilities)" industry received a PPP loan. These local businesses reported an average of 197 employees (compared to this company's 393) and received an average PPP loan of $2,140,721 (compared to this company's $2.57M).

Similar Nearby Businesses Who Received PPP Funding:

Beth Shalom Home Of Virginia
Richmond, VA

$1.71M PPP Loan

Industry PPP Comparison Statistics

Nationwide, 9,872 businesses in the "Nursing Care Facilities (Skilled Nursing Facilities)" industry received a total of $5,508,018,433.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 66 employees, 83% lower than Lakewood Manor Baptist Retirement Community, Inc.'s reported 393 employees, and received an average PPP loan of $557,944, 78% lower than this company's loan of $2.57M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan. All information displayed on this page is publicly available information under PPP loan guidelines, and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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Source: www.federalpay.org/paycheck-protection-program/lakewood-manor-baptist-retirement-community-inc-henrico-va