PPP Loan Data — Wesley Commons, Greenwood, SC
Wesley Commons is a non-profit organization located at 1110 Marshall Road in Greenwood, South Carolina that received a Coronavirus-related PPP loan from the SBA of $1,849,500.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Wesley Commons in Greenwood, SC received a Paycheck Protection Loan of $1.85M through Countybank, which was approved in April, 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, Wesley Commons' 2019 payroll expenses are estimated to be at least $8.88M.
Based on their reported 232 jobs retained, this equals an estimated average yearly compensation of $38,266 per employee1
Reported PPP Proceed Usage:
On the PPP application, Wesley Commons reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,849,500
Business Information - Wesley Commons in Greenwood, SC
1110 Marshall Road
Greenwood, SC 29646
Continuing Care Retirement Communities
NAICS code 623311
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Rural
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, 67% lower than Wesley Commons' reported 232 employees, and received an average PPP loan of $561,944, 70% lower than this company's loan of $1.85M.
FederalPay's PPP Information Policy
Footnotes & Information
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