PPP Loan Data — Thrive Counseling LLC, Lynchburg, VA
Thrive Counseling LLC is a limited liability company (LLC) located at 1000 Jefferson St Ste 2c in Lynchburg, Virginia that received a Coronavirus-related PPP loan from the SBA of $1,991,515.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Thrive Counseling LLC in Lynchburg, VA received a Paycheck Protection Loan of $1.99M through Bank of America, National Association, which was approved in May, 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, Thrive Counseling LLC's 2019 payroll expenses are estimated to be at least $9.56M.
Based on their reported 296 jobs retained, this equals an estimated average yearly compensation of $32,295 per employee1
Reported PPP Proceed Usage:
On the PPP application, Thrive Counseling LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,991,515
Business Information - Thrive Counseling LLC in Lynchburg, VA
1000 Jefferson St Ste 2c
Lynchburg, VA 24504
Other Individual and Family Services
NAICS code 624190
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Lynchburg
In the Lynchburg area, 5 businesses in the "Other Individual and Family Services" industry received a PPP loan. These local businesses reported an average of 63 employees (compared to this company's 296) and received an average PPP loan of $421,626 (compared to this company's $1.99M).
Similar Nearby Businesses Who Received PPP Funding:
Foundation Stones Inc
Interfaith Outreach Association
Kids' Haven: A Center For Grieving Children
Industry PPP Comparison Statistics
Nationwide, 25,118 businesses in the "Other Individual and Family Services" industry received a total of $2.96B 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 16 employees, 95% lower than Thrive Counseling LLC's reported 296 employees, and received an average PPP loan of $117,860, 94% lower than this company's loan of $1.99M.
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Footnotes & Information
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