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PPP Loan Data — Mental Health Center Of Boulder County, Inc, Lafayette, CO

SBA PPP loan data, payroll data, and salaries for Mental Health Center Of Boulder County, Inc
CO

Mental Health Center Of Boulder County, Inc

Entity: Employee Stock Ownership Plan(esop)

Industry: Outpatient Mental Health and Substance Abuse Centers

Location: Lafayette, CO

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Mental Health Center Of Boulder County, Inc is an employee stock ownership plan(esop) located at 1455 Dixon Ave, Suite 300 in Lafayette, Colorado that received a Coronavirus-related PPP loan from the SBA of $4,963,211.00 in April, 2020.

$ PPP Loan Information
Loan #3593357101

Loan Size:

$4.96M

Jobs Retained:

331

Loan Approved:

2020-04-11

Loan Status:

Paid in Full or Forgiven

Lender:

Sunflower Bank, National Association

Mental Health Center Of Boulder County, Inc in Lafayette, CO received a Paycheck Protection Loan of $4.96M through Sunflower Bank, National Association, 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 October, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Mental Health Center Of Boulder County, Inc's 2019 payroll expenses are estimated to be at least $23.82M.

Based on their reported 331 jobs retained, this equals an estimated average yearly compensation of $71,974 per employee1

Reported PPP Proceed Usage:

On the PPP application, Mental Health Center Of Boulder County, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $4,963,211
Because the loan received by Mental Health Center Of Boulder County, Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Mental Health Center Of Boulder County, Inc in Lafayette, CO

Mental Health Center Of Boulder County, Inc
1455 Dixon Ave, Suite 300
Lafayette, CO 80026

Business Industry:
Outpatient Mental Health and Substance Abuse Centers
NAICS code 621420

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Boulder County, CO — SBA Office 0811 — Congressional District: CO-02

Similar Companies near Lafayette

In the Lafayette area, 5 businesses in the "Outpatient Mental Health and Substance Abuse Centers" industry received a PPP loan. These local businesses reported an average of 68 employees (compared to this company's 331) and received an average PPP loan of $1,000,600 (compared to this company's $4.96M).

Industry PPP Comparison Statistics

Nationwide, 10,785 businesses in the "Outpatient Mental Health and Substance Abuse Centers" industry received a total of $1.82B 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 19 employees, 94% lower than Mental Health Center Of Boulder County, Inc's reported 331 employees, and received an average PPP loan of $168,728, 97% lower than this company's loan of $4.96M.

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.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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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Source: www.federalpay.org/paycheck-protection-program/mental-health-center-of-boulder-county-inc-lafayette-co