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PPP Loan Data — Premium Life Care Inc,
San Luis Obispo, CA
FRANCHISE
CAPremium Life Care Inc
Entity: Corporation
Industry: Home Health Care Services
Franchise: A Buyer's Choice Home Inspections
Location: San Luis Obispo, CA
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Premium Life Care Inc is a corporation located at 3220 S Higuera St Ste 315 in San Luis Obispo, California that received a Coronavirus-related PPP loan from the SBA of $174,860.00 in April, 2021. This business is a A Buyer's Choice Home Inspections franchise.
The company has reported itself as a White owned business, and employed at least 45 people during the applicable loan loan period.
$
PPP Loan Information
Loan #1495658907
Loan Size:
Jobs Retained:
45Loan Approved:
2021-04-26Loan Status:
Ongoing LoanLender:
Loan Source IncorporatedPremium Life Care Inc in San Luis Obispo, CA received a Paycheck Protection Loan of $174,860 through Loan Source Incorporated, which was approved in April, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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 MoreUnderstanding 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 MoreBased 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, Premium Life Care Inc's 2019 payroll expenses are estimated to be at least $839,328.
Based on their reported 45 jobs retained, this equals an estimated average yearly compensation of $18,652 per employee1
Reported PPP Proceed Usage:
On the PPP application, Premium Life Care Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $174,855
Business Information - Premium Life Care Inc in San Luis Obispo, CA
3220 S Higuera St Ste 315
San Luis Obispo, CA 93401
Business Industry:
Home Health Care Services
NAICS code 621610
Business Owner Demographics
Race: White
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
Similar Companies near San Luis Obispo
In the San Luis Obispo area, 16 businesses in the "Home Health Care Services" industry received a PPP loan. These local businesses reported an average of 22 employees (compared to this company's 45) and received an average PPP loan of $300,588 (compared to this company's $174,860).
Similar Nearby Businesses Who Received PPP Funding:
Evelyn Florentino
Los Osos, CA
Integrated Health Concepts, Inc
San Luis Obispo, CA
Elizabeth Ortiz
San Luis Obispo, CA
Regenerative Orthopedics Institute Inc
San Luis Obispo, CA
Curby D Jenkins DO Inc
San Luis Obispo, CA
Wilshire Health & Community Services Inc
San Luis Obispo, CA
Angela Agoruah
San Luis Obispo, CA
Mcmp Inc
Los Osos, CA
Sunrise Terrace Rcfe LLC
Los Osos, CA
Industry PPP Comparison Statistics
Nationwide, 91,996 businesses in the "Home Health Care Services" industry received a total of $7.67B 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 15 employees, 67% lower than Premium Life Care Inc's reported 45 employees, and received an average PPP loan of $83,373, 52% lower than this company's loan of $174,860.
FRANCHISE
CAPremium Life Care, Inc
Entity: Corporation
Industry: All Other Miscellaneous Ambulatory Health Care Services
Franchise: BrightStar Care
Location: San Luis Obispo, CA
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Premium Life Care, Inc is a corporation located at 3220 S Higuera St, Suite 315 in San Luis Obispo, California that received a Coronavirus-related PPP loan from the SBA of $189,600.00 in April, 2020. This business is a BrightStar Care franchise.
The company has reported itself as a White owned business, and employed at least 47 people during the applicable loan loan period.
$
PPP Loan Information
Loan #3485007300
Loan Size:
Jobs Retained:
47Loan Approved:
2020-04-29Loan Status:
Paid in Full or ForgivenLender:
Live Oak Banking CompanyPremium Life Care, Inc in San Luis Obispo, CA received a Paycheck Protection Loan of $189,600 through Live Oak Banking Company, 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 February, 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 MoreUnderstanding 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 MoreBased 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, Premium Life Care, Inc's 2019 payroll expenses are estimated to be at least $910,080.
Based on their reported 47 jobs retained, this equals an estimated average yearly compensation of $19,363 per employee1
Reported PPP Proceed Usage:
On the PPP application, Premium Life Care, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $189,600
Business Information - Premium Life Care, Inc in San Luis Obispo, CA
3220 S Higuera St, Suite 315
San Luis Obispo, CA 93401
Business Industry:
All Other Miscellaneous Ambulatory Health Care Services
NAICS code 621999
Business Owner Demographics
Race: White
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
Similar Companies near San Luis Obispo
In the San Luis Obispo area, 4 businesses in the "All Other Miscellaneous Ambulatory Health Care Services" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 47) and received an average PPP loan of $57,187 (compared to this company's $189,600).
Similar Nearby Businesses Who Received PPP Funding:
Steven R. Callahan, A Medical Corporation
San Luis Obispo, CA
Youu-Ness
San Luis Obispo, CA
Bagheri Medical Group
San Luis Obispo, CA
Industry PPP Comparison Statistics
Nationwide, 18,626 businesses in the "All Other Miscellaneous Ambulatory Health Care Services" industry received a total of $1.65B 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 12 employees, 74% lower than Premium Life Care, Inc's reported 47 employees, and received an average PPP loan of $88,620, 53% lower than this company's loan of $189,600.
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.
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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