PPP Loan Data — Life Counseling Center LLC, Easton, MD
Life Counseling Center LLC
Entity: Limited Liability Company (LLC)
Location: Easton, MDTweet This • Search All PPP Data
Life Counseling Center LLC is a limited liability company (LLC) located at 8737 Brooks Dr in Easton, Maryland that received a Coronavirus-related PPP loan from the SBA of $46,400.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:PNC Bank, National Association
Life Counseling Center LLC in Easton, MD received a Paycheck Protection Loan of $46,400 through PNC Bank, National Association, which was approved in April, 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, Life Counseling Center LLC's 2019 payroll expenses are estimated to be at least $222,720.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $27,840 per employee1
Reported PPP Proceed Usage:
On the PPP application, Life Counseling Center LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,400
Business Information - Life Counseling Center LLC in Easton, MD
8737 Brooks Dr
Easton, MD 21601
Offices of Mental Health Practitioners (except Physicians)
NAICS code 621330
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Easton
In the Easton area, 5 businesses in the "Offices of Mental Health Practitioners (except Physicians)" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 8) and received an average PPP loan of $18,503 (compared to this company's $46,400).
Similar Nearby Businesses Who Received PPP Funding:
Richard R. Greenbaum, PHD
Coastal Counseling & Wellness LLC
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, 50% lower than Life Counseling Center LLC's reported 8 employees, and received an average PPP loan of $35,352, 24% lower than this company's loan of $46,400.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!