PPP Loan Data — Somerset Comunity Services, Marion Station, MD
Somerset Comunity Services
Entity: Non-profit Organization
Location: Marion Station, MDTweet This • Search All PPP Data
Somerset Comunity Services is a non-profit organization located at 5574 Tulls Corner Rd in Marion Station, Maryland that received a Coronavirus-related PPP loan from the SBA of $2,117,100.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Hebron Savings Bank
Somerset Comunity Services in Marion Station, MD received a Paycheck Protection Loan of $2.12M through Hebron Savings 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, Somerset Comunity Services' 2019 payroll expenses are estimated to be at least $10.16M.
Based on their reported 394 jobs retained, this equals an estimated average yearly compensation of $25,792 per employee1
Reported PPP Proceed Usage:
On the PPP application, Somerset Comunity Services reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,117,100
Business Information - Somerset Comunity Services in Marion Station, MD
5574 Tulls Corner Rd
Marion Station, MD 21838
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: N
Rural / Urban: Rural
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, 93% lower than Somerset Comunity Services' reported 394 employees, and received an average PPP loan of $160,784, 92% lower than this company's loan of $2.12M.
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Footnotes & Information
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