PPP Loan Data — Ridgeview Psychiatric Hospital And Center Inc, Oak Ridge, TN
Ridgeview Psychiatric Hospital And Center Inc is a non-profit organization located at 240 W Tyrone Rd in Oak Ridge, Tennessee that received a Coronavirus-related PPP loan from the SBA of $2,207,125.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Ridgeview Psychiatric Hospital And Center Inc in Oak Ridge, TN received a Paycheck Protection Loan of $2.21M through Bank of America, National Association, which was approved in May, 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, Ridgeview Psychiatric Hospital And Center Inc's 2019 payroll expenses are estimated to be at least $10.59M.
Based on their reported 221 jobs retained, this equals an estimated average yearly compensation of $47,938 per employee1
Reported PPP Proceed Usage:
On the PPP application, Ridgeview Psychiatric Hospital And Center Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,207,125
Business Information - Ridgeview Psychiatric Hospital And Center Inc in Oak Ridge, TN
240 W Tyrone Rd
Oak Ridge, TN 37830
Psychiatric and Substance Abuse Hospitals
NAICS code 622210
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 1,071 businesses in the "Psychiatric and Substance Abuse Hospitals" industry received a total of $316.25M 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 32 employees, 86% lower than Ridgeview Psychiatric Hospital And Center Inc's reported 221 employees, and received an average PPP loan of $295,289, 87% lower than this company's loan of $2.21M.
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Footnotes & Information
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