PPP Loan Data — Loved Ones In Home Care LLC, South Charleston, WV
Loved Ones In Home Care LLC is a corporation located at 144 7th Ave in South Charleston, West Virginia that received a Coronavirus-related PPP loan from the SBA of $1,831,000.00 in April, 2020.
The company has reported itself as a female owned business, and employed at least 495 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Third Coast Bank SSB
Loved Ones In Home Care LLC in South Charleston, WV received a Paycheck Protection Loan of $1.83M through Third Coast Bank SSB, 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, Loved Ones In Home Care LLC's 2019 payroll expenses are estimated to be at least $8.79M.
Based on their reported 495 jobs retained, this equals an estimated average yearly compensation of $17,755 per employee1
Reported PPP Proceed Usage:
On the PPP application, Loved Ones In Home Care LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,831,000
Business Information - Loved Ones In Home Care LLC in South Charleston, WV
144 7th Ave
South Charleston, WV 25303
Home Health Care Services
NAICS code 621610
Business Owner Demographics
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near South Charleston
In the South Charleston area, 11 businesses in the "Home Health Care Services" industry received a PPP loan. These local businesses reported an average of 72 employees (compared to this company's 495) and received an average PPP loan of $254,965 (compared to this company's $1.83M).
Similar Nearby Businesses Who Received PPP Funding:
Kanawha Home Health Care, Inc
A Special Touch In Home Care, LLC
South Charleston, WV
Lots Of Hearts Homecare LLC
Kanawha Home Health, Inc
Allied Nursing And Community Services LLC
Special Touch Nursing Service, Inc
Industry PPP Comparison Statistics
Nationwide, 91,996 businesses in the "Home Health Care Services" industry received a total of $7.67B 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 15 employees, 97% lower than Loved Ones In Home Care LLC's reported 495 employees, and received an average PPP loan of $83,373, 95% lower than this company's loan of $1.83M.
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Footnotes & Information
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