PPP Loan Data — Southfield Rehabilitation Company LLC, Southfield, MI
Southfield Rehabilitation Company LLC
Entity: Limited Liability Company (LLC)
Location: Southfield, MITweet This • Search All PPP Data
Southfield Rehabilitation Company LLC is a limited liability company (LLC) located at 22401 Foster Winter Dr in Southfield, Michigan that received a Coronavirus-related PPP loan from the SBA of $2,290,200.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Old National Bank
Southfield Rehabilitation Company LLC in Southfield, MI received a Paycheck Protection Loan of $2.29M through Old National 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, Southfield Rehabilitation Company LLC's 2019 payroll expenses are estimated to be at least $10.99M.
Based on their reported 142 jobs retained, this equals an estimated average yearly compensation of $77,415 per employee1
Reported PPP Proceed Usage:
On the PPP application, Southfield Rehabilitation Company LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,290,200
Business Information - Southfield Rehabilitation Company LLC in Southfield, MI
22401 Foster Winter Dr
Southfield, MI 48075
Specialty (except Psychiatric and Substance Abuse) Hospitals
NAICS code 622310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Southfield
In the Southfield area, 2 businesses in the "Specialty (except Psychiatric and Substance Abuse) Hospitals" industry received a PPP loan. These local businesses reported an average of 193 employees (compared to this company's 142) and received an average PPP loan of $2,783,752 (compared to this company's $2.29M).
Similar Nearby Businesses Who Received PPP Funding:
Michigan Orthopaedic Surgeons, PLLC
Industry PPP Comparison Statistics
Nationwide, 1,497 businesses in the "Specialty (except Psychiatric and Substance Abuse) Hospitals" industry received a total of $391.15M 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 25 employees, 82% lower than Southfield Rehabilitation Company LLC's reported 142 employees, and received an average PPP loan of $261,289, 89% lower than this company's loan of $2.29M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!