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PPP Loan Data — Lapeer County Medical Facility, Lapeer, MI

SBA PPP loan data, payroll data, and salaries for Lapeer County Medical Facility
MI Nonprofit Organization

Lapeer County Medical Facility

Entity: Non-profit Organization

Industry: Nursing Care Facilities (Skilled Nursing Facilities)

Location: Lapeer, MI

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Lapeer County Medical Facility is a non-profit organization located at 1455 Suncrest Dr. in Lapeer, Michigan that received a Coronavirus-related PPP loan from the SBA of $3,397,606.00 in August, 2020.

$ PPP Loan Information

Loan Size:

$3.4M

Jobs Retained:

379

Loan Approved:

2020-08-07

Lender:

CHOICEONE BANK

Lapeer County Medical Facility received a Paycheck Protection Loan of $3.4M through CHOICEONE BANK, which was approved in August, 2020.

Based on standard PPP eligibility rules, Lapeer County Medical Facility's total 2019 payroll expenses were approximately $16.31M in order to qualify for the PPP loan amount received.

Based on their reported 379 jobs retained, this equals an estimated average yearly compensation of $43,030 per employee1.

Because the loan received by Lapeer County Medical Facility 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 - Lapeer County Medical Facility in Lapeer, MI

Lapeer County Medical Facility
1455 Suncrest Dr.
Lapeer, MI 48446

Business Industry

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

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MI-10

Similar Companies near Lapeer

In the Lapeer area, 3 businesses in the "Nursing Care Facilities (Skilled Nursing Facilities)" industry received a PPP loan. These local businesses reported an average of 161 employees (compared to this company's 379) and received an average PPP loan of $1,476,653 (compared to this company's $3.4M).

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 Lapeer County Medical Facility's reported 379 employees, and received an average PPP loan of $557,944, 84% lower than this company's loan of $3.4M.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/lapeer-county-medical-facility-lapeer-mi