PPP Loan Data — Solaris Healthcare Merritt Island, LLC, Merritt Island, FL
Solaris Healthcare Merritt Island, LLC
Entity: Limited Liability Company (LLC)
Location: Merritt Island, FLTweet This • Search All PPP Data
Solaris Healthcare Merritt Island, LLC is a limited liability company (LLC) located at 500 Crockett Blvd in Merritt Island, Florida that received a Coronavirus-related PPP loan from the SBA of $1,860,961.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:American Momentum Bank
Solaris Healthcare Merritt Island, LLC in Merritt Island, FL received a Paycheck Protection Loan of $1.86M through American Momentum 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, Solaris Healthcare Merritt Island, LLC's 2019 payroll expenses are estimated to be at least $8.93M.
Based on their reported 217 jobs retained, this equals an estimated average yearly compensation of $41,164 per employee1
Reported PPP Proceed Usage:
On the PPP application, Solaris Healthcare Merritt Island, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,800,000
- Utilities: $60,961
Business Information - Solaris Healthcare Merritt Island, LLC in Merritt Island, FL
500 Crockett Blvd
Merritt Island, FL 32953
Nursing Care Facilities (Skilled Nursing Facilities)
NAICS code 623110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Merritt Island
In the Merritt Island area, 3 businesses in the "Nursing Care Facilities (Skilled Nursing Facilities)" industry received a PPP loan. These local businesses reported an average of 95 employees (compared to this company's 217) and received an average PPP loan of $733,517 (compared to this company's $1.86M).
Similar Nearby Businesses Who Received PPP Funding:
Christopher Management, Inc
Merritt Island, FL
Solaris Senior Living Of Merritt Island, LLC
Merritt Island, FL
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, 72% lower than Solaris Healthcare Merritt Island, LLC's reported 217 employees, and received an average PPP loan of $442,944, 76% lower than this company's loan of $1.86M.
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Footnotes & Information
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