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PPP Loan Data — Veritas Healthcare Group LLC, Southaven, MS

SBA PPP loan data, payroll data, and salaries for Veritas Healthcare Group LLC
MS

Veritas Healthcare Group LLC

Entity: Limited Liability Company (LLC)

Industry: Assisted Living Facilities for the Elderly

Location: Southaven, MS

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Veritas Healthcare Group LLC is a limited liability company (LLC) located at 6858 Swinnea Rd in Southaven, Mississippi that received a Coronavirus-related PPP loan from the SBA of $3,356,395.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.36M

Jobs Retained:

500

Loan Approved:

2020-04-14

Lender:

BANCORPSOUTH BANK

Veritas Healthcare Group LLC received a Paycheck Protection Loan of $3.36M through BANCORPSOUTH BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Veritas Healthcare Group LLC's total 2019 payroll expenses were approximately $16.11M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $32,221 per employee1.

Because the loan received by Veritas Healthcare Group LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Veritas Healthcare Group LLC in Southaven, MS

Veritas Healthcare Group LLC
6858 Swinnea Rd
Southaven, MS 38671

Business Industry

Assisted Living Facilities for the Elderly (NAICS code 623312)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MS-01

Industry PPP Comparison Statistics

Nationwide, 6,544 businesses in the "Assisted Living Facilities for the Elderly" industry received a total of $1,444,187,946.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 32 employees, 94% lower than Veritas Healthcare Group LLC's reported 500 employees, and received an average PPP loan of $220,689, 93% lower than this company's loan of $3.36M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.

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Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/veritas-healthcare-group-llc-southaven-ms