PPP Loan Data — Lynns Care Village Association Inc, Raleigh, NC
Lynns Care Village Association Inc
Location: Raleigh, NCTweet This • Search All PPP Data
Lynns Care Village Association Inc is a corporation located at 1216 Brookside Dr in Raleigh, North Carolina that received a Coronavirus-related PPP loan from the SBA of $44,472.00 in May, 2020.
$ PPP Loan Information
Lender:BANK OF AMERICA, NATIONAL ASSOCIATION
Lynns Care Village Association Inc received a Paycheck Protection Loan of $44,472 through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in May, 2020.
Based on standard PPP eligibility rules, Lynns Care Village Association Inc's total 2019 payroll expenses were approximately $213,466 in order to qualify for the PPP loan amount received.
Based on their reported 12 jobs retained, this equals an estimated average yearly compensation of $17,789 per employee1.
Business Information - Lynns Care Village Association Inc in Raleigh, NC
1216 Brookside Dr
Raleigh, NC 27604
Offices of Physicians (except Mental Health Specialists) (NAICS code 621111)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: NC-04
Similar Companies near Raleigh
In the Raleigh area, 18 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 23 employees (compared to this company's 12) and received an average PPP loan of $235,752 (compared to this company's $44,472).
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Industry PPP Comparison Statistics
Nationwide, 114,302 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a total of $15,789,256,580.00 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 10 employees, 17% lower than Lynns Care Village Association Inc's reported 12 employees, and received an average PPP loan of $138,136, 211% higher than this company's loan of $44,472.
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. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
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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