PPP Loan Data — Sertoma Center, Incorporated, Knoxville, TN
Sertoma Center, Incorporated
Entity: Non-profit Organization
Location: Knoxville, TNTweet This • Search All PPP Data
Sertoma Center, Incorporated is a non-profit organization located at 1400 East 5th Avenue in Knoxville, Tennessee that received a Coronavirus-related PPP loan from the SBA of $1,813,107.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Horizon Bank
Sertoma Center, Incorporated in Knoxville, TN received a Paycheck Protection Loan of $1.81M through First Horizon Bank, 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 April, 2021.
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, Sertoma Center, Incorporated's 2019 payroll expenses are estimated to be at least $8.7M.
Based on their reported 197 jobs retained, this equals an estimated average yearly compensation of $44,177 per employee1
Reported PPP Proceed Usage:
On the PPP application, Sertoma Center, Incorporated reported intending to use the proceeds of their PPP loan for the following expenses:
- Utilities: $114,646
- Mortgage Interest: $1,698,461
Business Information - Sertoma Center, Incorporated in Knoxville, TN
1400 East 5th Avenue
Knoxville, TN 37917
Services for the Elderly and Persons with Disabilities
NAICS code 624120
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Knoxville
In the Knoxville area, 4 businesses in the "Services for the Elderly and Persons with Disabilities" industry received a PPP loan. These local businesses reported an average of 58 employees (compared to this company's 197) and received an average PPP loan of $510,804 (compared to this company's $1.81M).
Similar Nearby Businesses Who Received PPP Funding:
Epilepsy Foundation Of East TN
Cerebral Palsy Center For Handicapped Adults Inc
Knoxville Aging In Place, Inc
Industry PPP Comparison Statistics
Nationwide, 13,270 businesses in the "Services for the Elderly and Persons with Disabilities" industry received a total of $2.13B 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 27 employees, 86% lower than Sertoma Center, Incorporated's reported 197 employees, and received an average PPP loan of $160,784, 91% lower than this company's loan of $1.81M.
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Footnotes & Information
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