PPP Loan Data — Riverview Nursing Home Inc, Coventry, RI
Riverview Nursing Home Inc
Entity: Subchapter S Corporation
Location: Coventry, RITweet This • Search All PPP Data
Riverview Nursing Home Inc is a subchapter s corporation located at 546 Main Street in Coventry, Rhode Island that received a Coronavirus-related PPP loan from the SBA of $1,971,100.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 188 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank Rhode Island
Riverview Nursing Home Inc in Coventry, RI received a Paycheck Protection Loan of $1.97M through Bank Rhode Island, 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, Riverview Nursing Home Inc's 2019 payroll expenses are estimated to be at least $9.46M.
Based on their reported 188 jobs retained, this equals an estimated average yearly compensation of $50,326 per employee1
Reported PPP Proceed Usage:
On the PPP application, Riverview Nursing Home Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,971,100
Business Information - Riverview Nursing Home Inc in Coventry, RI
546 Main Street
Coventry, RI 2816
Nursing Care Facilities (Skilled Nursing Facilities)
NAICS code 623110
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Coventry
In the Coventry area, 2 businesses in the "Nursing Care Facilities (Skilled Nursing Facilities)" industry received a PPP loan. These local businesses reported an average of 154 employees (compared to this company's 188) and received an average PPP loan of $1,301,150 (compared to this company's $1.97M).
Similar Nearby Businesses Who Received PPP Funding:
Alpine Retirement Home Inc
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, 68% lower than Riverview Nursing Home Inc's reported 188 employees, and received an average PPP loan of $442,944, 78% lower than this company's loan of $1.97M.
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Footnotes & Information
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