PPP Loan Data — Veterans Memorial Hospital City Of Waukon Ia, Waukon, IA
Veterans Memorial Hospital City Of Waukon Ia is a non-profit organization located at 40 1st Street Se in Waukon, Iowa that received a Coronavirus-related PPP loan from the SBA of $1,875,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Veterans Memorial Hospital City Of Waukon Ia in Waukon, IA received a Paycheck Protection Loan of $1.88M through FreedomBank, 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 January, 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, Veterans Memorial Hospital City Of Waukon Ia's 2019 payroll expenses are estimated to be at least $9M.
Based on their reported 156 jobs retained, this equals an estimated average yearly compensation of $57,692 per employee1
Reported PPP Proceed Usage:
On the PPP application, Veterans Memorial Hospital City Of Waukon Ia reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,875,000
Business Information - Veterans Memorial Hospital City Of Waukon Ia in Waukon, IA
40 1st Street Se
Waukon, IA 52172
General Medical and Surgical Hospitals
NAICS code 622110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 9,269 businesses in the "General Medical and Surgical Hospitals" industry received a total of $3.57B 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 36 employees, 77% lower than Veterans Memorial Hospital City Of Waukon Ia's reported 156 employees, and received an average PPP loan of $385,289, 79% lower than this company's loan of $1.88M.
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Footnotes & Information
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