PPP Loan Data — Pacesetters, Inc, Cookeville, TN
Location: Cookeville, TNTweet This • Search All PPP Data
Pacesetters, Inc is a corporation located at 2511 Highway 111 North in Cookeville, Tennessee that received a Coronavirus-related PPP loan from the SBA of $1,909,650.00 in April, 2020.
The company has reported itself as a female owned business, and employed at least 265 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Pacesetters, Inc in Cookeville, TN received a Paycheck Protection Loan of $1.91M through F&M Bank, 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 April, 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, Pacesetters, Inc's 2019 payroll expenses are estimated to be at least $9.17M.
Based on their reported 265 jobs retained, this equals an estimated average yearly compensation of $34,590 per employee1
Reported PPP Proceed Usage:
On the PPP application, Pacesetters, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,909,650
Business Information - Pacesetters, Inc in Cookeville, TN
2511 Highway 111 North
Cookeville, TN 38506
Residential Mental Health and Substance Abuse Facilities
NAICS code 623220
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 3,600 businesses in the "Residential Mental Health and Substance Abuse Facilities" industry received a total of $1.06B 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 36 employees, 86% lower than Pacesetters, Inc's reported 265 employees, and received an average PPP loan of $295,104, 85% lower than this company's loan of $1.91M.
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Footnotes & Information
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