THE REHABILITATION HOSPITAL OF THE PACIFIC
PPP Loan approved Feb 17, 2021 through First Hawaiian Bank
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $5,549,115.00 | 100.0% |
| Utilities | $1.00 | 0.0% |
About This Loan
THE REHABILITATION HOSPITAL OF THE PACIFIC received a PPP loan of $5,549,120 approved on Feb 17, 2021. The loan was originated by First Hawaiian Bank.
THE REHABILITATION HOSPITAL OF THE PACIFIC is a 501(c)3 � non profit located in HONOLULU, Hawaii. At the time of the application, the business was described as "existing or more than 2 years old".
The business operates in the Specialty (except Psychiatric and Substance Abuse) Hospitals industry (NAICS 622310), part of the Health Care and Social Assistance sector of the economy. The applicant reported 423 jobs as retained through this loan.
The SBA forgave $5,583,956.14 of this loan — 100.6% of the total approved amount, with forgiveness recorded on Oct 6, 2021. 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: $5,549,115 to payroll, $1 to utilities. The payroll component represents 100.0% 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 Hawaii, visit the Hawaii page. To compare this loan with others in the same industry, see the Specialty (except Psychiatric and Substance Abuse) Hospitals industry page.