PPP Loan Data — Promed Healthcare Services, LLC, Lakeland, FL
Promed Healthcare Services, LLC is a limited liability company (LLC) located at 714 N Massachusetts Ave in Lakeland, Florida that received a Coronavirus-related PPP loan from the SBA of $2,201,695.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Valley National Bank
Promed Healthcare Services, LLC in Lakeland, FL received a Paycheck Protection Loan of $2.2M through Valley National 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, Promed Healthcare Services, LLC's 2019 payroll expenses are estimated to be at least $10.57M.
Based on their reported 289 jobs retained, this equals an estimated average yearly compensation of $36,568 per employee1
Reported PPP Proceed Usage:
On the PPP application, Promed Healthcare Services, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,201,695
Business Information - Promed Healthcare Services, LLC in Lakeland, FL
714 N Massachusetts Ave
Lakeland, FL 33801
Temporary Help Services
NAICS code 561320
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 8,994 businesses in the "Temporary Help Services" industry received a total of $3.65B 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 51 employees, 82% lower than Promed Healthcare Services, LLC's reported 289 employees, and received an average PPP loan of $405,841, 82% lower than this company's loan of $2.2M.
FederalPay's PPP Information Policy
Footnotes & Information
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