PPP Loan Data — Lapeer County Medical Facility, Lapeer, MI
Lapeer County Medical Facility
Entity: Non-profit Organization
Location: Lapeer, MITweet This • Search All PPP Data
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
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.
Business Information - Lapeer County Medical Facility in Lapeer, MI
1455 Suncrest Dr.
Lapeer, MI 48446
Nursing Care Facilities (Skilled Nursing Facilities) (NAICS code 623110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional 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).
Similar Nearby Businesses Who Received PPP Funding:
Davis And Davis Management
MJohnson Associates LLC
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.
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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