PPP Loan Data — Wetzel County Hospital Association, New Martinsville, WV
Wetzel County Hospital Association is a non-profit organization located at 3 E Benjamin Dr in New Martinsville, West Virginia that received a Coronavirus-related PPP loan from the SBA of $1,963,435.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:WesBanco Bank, Inc.
Wetzel County Hospital Association in New Martinsville, WV received a Paycheck Protection Loan of $1.96M through WesBanco Bank, Inc., 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, Wetzel County Hospital Association's 2019 payroll expenses are estimated to be at least $9.42M.
Based on their reported 271 jobs retained, this equals an estimated average yearly compensation of $34,777 per employee1
Reported PPP Proceed Usage:
On the PPP application, Wetzel County Hospital Association reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,963,435
Business Information - Wetzel County Hospital Association in New Martinsville, WV
3 E Benjamin Dr
New Martinsville, WV 26155
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, 87% lower than Wetzel County Hospital Association's reported 271 employees, and received an average PPP loan of $385,289, 80% lower than this company's loan of $1.96M.
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Footnotes & Information
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