PPP Loan Data — MGH Family Health Center, Muskegon Hts, MI
MGH Family Health Center
Location: Muskegon Hts, MITweet This • Search All PPP Data
MGH Family Health Center is a corporation located at 2201 S Getty St in Muskegon Hts, Michigan that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
MGH Family Health Center in Muskegon Hts, MI received a Paycheck Protection Loan of $2M through ChoiceOne Bank, which was approved in January, 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, MGH Family Health Center's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 158 jobs retained, this equals an estimated average yearly compensation of $60,759 per employee1
Reported PPP Proceed Usage:
On the PPP application, MGH Family Health Center reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,999
- Utilities: $1
Business Information - MGH Family Health Center in Muskegon Hts, MI
2201 S Getty St
Muskegon Hts, MI 49444
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: Urban
Similar Companies near Muskegon Hts
In the Muskegon Hts area, 26 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 42 employees (compared to this company's 158) and received an average PPP loan of $501,387 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
West Michigan Nephrology PLLC
Shoreline Foot & Ankle Associates, PC
Port City Pediatrics Plc
Norton Shores, MI
Muskegon Heights, MI
Seminole Shores Internal Medicine
Benjamin J. Visger, DO. PLLC
Orthopaedic Associates Of Muskegon, PC
Norton Shores, MI
Harbour Towne Health PLLC
North Shores, MI
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, 93% lower than MGH Family Health Center's reported 158 employees, and received an average PPP loan of $119,087, 94% lower than this company's loan of $2M.
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Footnotes & Information
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