PPP Loan Data — True Hope Psychiatric Services, LLC, Everett, WA
True Hope Psychiatric Services, LLC
Entity: Limited Liability Company (LLC)
Location: Everett, WATweet This • Search All PPP Data
True Hope Psychiatric Services, LLC is a limited liability company (LLC) located at 2012 34th Street in Everett, Washington that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
The company has reported itself as a female owned business, and employed at least two people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Cross River Bank
True Hope Psychiatric Services, LLC in Everett, WA received a Paycheck Protection Loan of $25,000 through Cross River 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 December, 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, True Hope Psychiatric Services, LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, True Hope Psychiatric Services, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - True Hope Psychiatric Services, LLC in Everett, WA
2012 34th Street
Everett, WA 98201
Offices of Mental Health Practitioners (except Physicians)
NAICS code 621330
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Everett
In the Everett area, 14 businesses in the "Offices of Mental Health Practitioners (except Physicians)" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 2) and received an average PPP loan of $18,289 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Holly Petaja Ps
Daniel A Schmekel
Snohomish Psychology Associates, PLLC
Kathi Mcarthur Insurance Agency, Inc
Jann Finley Lmhc
Noel Clark Counseling, PLLC
Industry PPP Comparison Statistics
Nationwide, 35,652 businesses in the "Offices of Mental Health Practitioners (except Physicians)" industry received a total of $1.26B 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 4 employees, 100% higher than True Hope Psychiatric Services, LLC's reported 2 employees, and received an average PPP loan of $35,352, 41% higher than this company's loan of $25,000.
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