PPP Loan Data — Luther Home Of Mercy, Williston, OH
Luther Home Of Mercy
Entity: Non-profit Organization
Location: Williston, OHTweet This • Search All PPP Data
Luther Home Of Mercy is a non-profit organization located at 5810 N. Main St. Po Box 187 in Williston, Ohio that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:The Genoa Banking Company
Luther Home Of Mercy in Williston, OH received a Paycheck Protection Loan of $2M through The Genoa Banking Company, 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 June, 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, Luther Home Of Mercy's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 306 jobs retained, this equals an estimated average yearly compensation of $31,373 per employee1
Reported PPP Proceed Usage:
On the PPP application, Luther Home Of Mercy reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,000,000
Business Information - Luther Home Of Mercy in Williston, OH
5810 N. Main St. Po Box 187
Williston, OH 43468
Nursing Care Facilities (Skilled Nursing Facilities)
NAICS code 623110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 15,360 businesses in the "Nursing Care Facilities (Skilled Nursing Facilities)" industry received a total of $6.8B 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 60 employees, 80% lower than Luther Home Of Mercy's reported 306 employees, and received an average PPP loan of $442,944, 78% lower than this company's loan of $2M.
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Footnotes & Information
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