Continuing Care Retirement Communities and Assisted Living Facilities for the Elderly

Businesses and organizations in the Continuing Care Retirement Communities and Assisted Living Facilities for the Elderly industry (NAICS code 6233, part of the Health Care and Social Assistance sector) received 12,865 PPP loans totaling $3.35B during the COVID-19 pandemic.

The average loan for this industry was $260,304 — above the national PPP average of approximately $67,000. This reflects the relatively large size of many businesses in this sector, which tend to have higher payroll costs and more employees.

96.4% of loans in this industry were forgiven — totaling $3.31B. To qualify for forgiveness, borrowers had to demonstrate that they maintained headcount and compensation levels and used at least 60% of loan proceeds for payroll expenses.

Notable recipients in this industry include EDGEWOOD OPCO LLC of GRAND FORKS, ND ($10,000,000); BICKFORD SENIOR LIVING GROUP LLC of OLATHE, KS ($10,000,000); and LEGEND SENIOR LIVING LLC of WICHITA, KS ($10,000,000).

The loan amount distribution for this industry shows a more even spread across loan sizes, suggesting a mix of small and mid-sized businesses. Because borrower names are withheld for loans under $150,000, a substantial portion of recipients in this industry may not appear by name in this dataset.

As part of the broader Health Care and Social Assistance sector — health care, social assistance, and related services. — businesses in NAICS 6233 were particularly positioned as essential workers during the pandemic, with PPP funds helping to maintain health care capacity.