EK HEALTH SERVICES INC.
PPP Loan approved Apr 9, 2020 through Western Alliance Bank
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $3,949,912.00 | 95.5% |
| Utilities | $132,830.00 | 3.2% |
| Rent / Lease | $52,358.00 | 1.3% |
About This Loan
EK HEALTH SERVICES INC. received a PPP loan of $4,135,100 approved on Apr 9, 2020. The loan was originated by Western Alliance Bank.
EK HEALTH SERVICES INC. is a corporation located in SAN JOSE, California. At the time of the application, the business was described as "existing or more than 2 years old".
The business operates in the Insurance Carriers industry (NAICS 524114), part of the Finance and Insurance sector of the economy. The applicant reported 275 jobs as retained through this loan.
The SBA forgave $4,183,227.97 of this loan — 101.2% of the total approved amount, with forgiveness recorded on Jun 11, 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: $3,949,912 to payroll, $132,830 to utilities, $52,358 to rent or lease obligations. The payroll component represents 95.5% 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 California, visit the California page. To compare this loan with others in the same industry, see the Insurance Carriers industry page.