HEALTH SERVICES HOLDINGS INC
PPP Loan approved Apr 27, 2020 through First Source Federal Credit Union
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $7,500,000.00 | 75.0% |
| Utilities | $1,250,000.00 | 12.5% |
| Mortgage Interest | $1,250,000.00 | 12.5% |
About This Loan
HEALTH SERVICES HOLDINGS INC received a PPP loan of $10,000,000 approved on Apr 27, 2020. The loan was originated by First Source Federal Credit Union.
HEALTH SERVICES HOLDINGS INC is a corporation located in PHOENIX, Arizona. At the time of the application, the business was described as "existing or more than 2 years old".
The business operates in the Offices of Physicians industry (NAICS 621111), part of the Health Care and Social Assistance sector of the economy. The applicant reported 378 jobs as retained through this loan.
The SBA forgave $10,175,555.56 of this loan — 101.8% of the total approved amount, with forgiveness recorded on Jan 21, 2022. This means the borrower was not required to repay this portion, having satisfied the PPP's eligibility criteria for forgiveness, including maintaining payroll levels and using the funds for qualified expenses.
According to the SBA's records, the proceeds of this loan were allocated as follows: $7,500,000 to payroll, $1,250,000 to utilities, $1,250,000 to mortgage interest. The payroll component represents 75.0% of disclosed proceeds, consistent with the program's requirement that at least 60% of loan funds be used for payroll costs to qualify for full forgiveness.
This loan is one of millions approved nationwide during the COVID-19 pandemic. To explore other recipients in Arizona, visit the Arizona page. To compare this loan with others in the same industry, see the Offices of Physicians industry page.