PPP Loan Data — Lifelines Center For Health PLLC, Lufkin, TX
Lifelines Center For Health PLLC
Entity: Limited Liability Company (LLC)
Location: Lufkin, TXTweet This • Search All PPP Data
Lifelines Center For Health PLLC is a limited liability company (LLC) located at 111 E Shepherd Ave in Lufkin, Texas that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Commercial Bank of Texas, N.A.
Lifelines Center For Health PLLC in Lufkin, TX received a Paycheck Protection Loan of $25,000 through Commercial Bank of Texas, N.A., 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 March, 2021.
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, Lifelines Center For Health PLLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Lifelines Center For Health PLLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $20,000
- Utilities: $2,500
- Rent: $2,500
Business Information - Lifelines Center For Health PLLC in Lufkin, TX
111 E Shepherd Ave
Lufkin, TX 75901
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Lufkin
In the Lufkin area, 18 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 3) and received an average PPP loan of $72,642 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
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The Children's Clinic Of Woodville, PLLC
Shawn Todd DO PA
Clifton H. Cathcart, DO., PA
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Industry PPP Comparison Statistics
Nationwide, 176,926 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a total of $21.07B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 3% of the total PPP funding allocated.
PPP recipients in this industry report an average of 11 employees, 267% higher than Lifelines Center For Health PLLC's reported 3 employees, and received an average PPP loan of $119,087, 376% higher than this company's loan of $25,000.
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