PPP Loan Data — Neuropsychiatric Hospitals LLC, South Bend, IN
Neuropsychiatric Hospitals LLC is a limited liability company (LLC) located at 112 Jefferson Blvd, Suite 600 in South Bend, Indiana that received a Coronavirus-related PPP loan from the SBA of $4,475,300.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 191 people during the applicable loan loan period.
$ PPP Loan Information
Lender:LAKE CITY BANK
Neuropsychiatric Hospitals LLC in South Bend, IN received a Paycheck Protection Loan of $4.48M through LAKE CITY BANK, which was approved in April, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 191 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 215.
Based on standard PPP eligibility rules, Neuropsychiatric Hospitals LLC's total 2019 payroll expenses were approximately $21.48M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 191 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Neuropsychiatric Hospitals LLC in South Bend, IN
112 Jefferson Blvd, Suite 600
South Bend, IN 46601
Psychiatric and Substance Abuse Hospitals (NAICS code 622210)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: IN-02
Industry PPP Comparison Statistics
Nationwide, 767 businesses in the "Psychiatric and Substance Abuse Hospitals" industry received a total of $269,257,685.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 34 employees, 82% lower than Neuropsychiatric Hospitals LLC's reported 191 employees, and received an average PPP loan of $351,053, 92% lower than this company's loan of $4.48M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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