PPP Loan Data — Westminster-Canterbury Of Winchester, Inc, Winchester, VA
Westminster-Canterbury Of Winchester, Inc is a non-profit organization located at 300 Westminster-canterbury Dr in Winchester, Virginia that received a Coronavirus-related PPP loan from the SBA of $2,367,800.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Westminster-Canterbury Of Winchester, Inc in Winchester, VA received a Paycheck Protection Loan of $2.37M through First Bank, 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, Westminster-Canterbury Of Winchester, Inc's 2019 payroll expenses are estimated to be at least $11.37M.
Based on their reported 306 jobs retained, this equals an estimated average yearly compensation of $37,142 per employee1
Reported PPP Proceed Usage:
On the PPP application, Westminster-Canterbury Of Winchester, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,367,800
Business Information - Westminster-Canterbury Of Winchester, Inc in Winchester, VA
300 Westminster-canterbury Dr
Winchester, VA 22603
Continuing Care Retirement Communities
NAICS code 623311
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Winchester
In the Winchester area, 2 businesses in the "Continuing Care Retirement Communities" industry received a PPP loan. These local businesses reported an average of 220 employees (compared to this company's 306) and received an average PPP loan of $1,839,800 (compared to this company's $2.37M).
Similar Nearby Businesses Who Received PPP Funding:
The Village At Orchard Ridge Inc
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, 75% lower than Westminster-Canterbury Of Winchester, Inc's reported 306 employees, and received an average PPP loan of $561,944, 76% lower than this company's loan of $2.37M.
FederalPay's PPP Information Policy
Footnotes & Information
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