PPP Loan Data — The Glen Retirement System, Shreveport, LA
The Glen Retirement System is a limited liability company (LLC) located at 403 Flournoy Lucas Rd in Shreveport, Louisiana that received a Coronavirus-related PPP loan from the SBA of $1,600,010.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
The Glen Retirement System in Shreveport, LA received a Paycheck Protection Loan of $1.6M through BancorpSouth 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 May, 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, The Glen Retirement System's 2019 payroll expenses are estimated to be at least $7.68M.
Based on their reported 213 jobs retained, this equals an estimated average yearly compensation of $36,057 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Glen Retirement System reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,600,010
Business Information - The Glen Retirement System in Shreveport, LA
403 Flournoy Lucas Rd
Shreveport, LA 71115
Continuing Care Retirement Communities
NAICS code 623311
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 2,718 businesses in the "Continuing Care Retirement Communities" industry received a total of $1.53B 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 77 employees, 64% lower than The Glen Retirement System's reported 213 employees, and received an average PPP loan of $561,944, 65% lower than this company's loan of $1.6M.
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Footnotes & Information
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