PPP Loan Data — Parsons Hill MA Snf LLC, Worcester, MA
Parsons Hill MA Snf LLC
Entity: Limited Liability Company (LLC)
Location: Worcester, MATweet This • Search All PPP Data
Parsons Hill MA Snf LLC is a limited liability company (LLC) located at 1350 Main Street in Worcester, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $1,700,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Parsons Hill MA Snf LLC in Worcester, MA received a Paycheck Protection Loan of $1.7M through Berkshire Bank, which was approved in April, 2020.
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, Parsons Hill MA Snf LLC's 2019 payroll expenses are estimated to be at least $8.16M.
Based on their reported 221 jobs retained, this equals an estimated average yearly compensation of $36,923 per employee1
Reported PPP Proceed Usage:
On the PPP application, Parsons Hill MA Snf LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,700,000
Business Information - Parsons Hill MA Snf LLC in Worcester, MA
1350 Main Street
Worcester, MA 1603
Nursing Care Facilities (Skilled Nursing Facilities)
NAICS code 623110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Worcester
In the Worcester area, 6 businesses in the "Nursing Care Facilities (Skilled Nursing Facilities)" industry received a PPP loan. These local businesses reported an average of 99 employees (compared to this company's 221) and received an average PPP loan of $798,750 (compared to this company's $1.7M).
Similar Nearby Businesses Who Received PPP Funding:
Bear MT Worcester LLC
Cornerstone Healthcare Systems LLC
Donna Kay Rest Home Elita 7 LLC
Emanuel Development Corporation
Elita 7 LLC
Industry PPP Comparison Statistics
Nationwide, 15,360 businesses in the "Nursing Care Facilities (Skilled Nursing Facilities)" industry received a total of $6.8B 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 60 employees, 73% lower than Parsons Hill MA Snf LLC's reported 221 employees, and received an average PPP loan of $442,944, 74% lower than this company's loan of $1.7M.
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Footnotes & Information
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