COMMCARE CORPORATION
PPP Loan approved Apr 14, 2020 through JPMorgan Chase Bank, National Association
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Utilities | $8,242,553.00 | 91.4% |
| Health Care | $777,007.00 | 8.6% |
About This Loan
COMMCARE CORPORATION received a PPP loan of $9,019,560 approved on Apr 14, 2020. The loan was originated by JPMorgan Chase Bank, National Association.
COMMCARE CORPORATION is a non-profit organization located in MANDEVILLE, Louisiana. At the time of the application, the business was described as "existing or more than 2 years old". This organization is classified as a non-profit.
The business operates in the Nursing Care Facilities (Skilled Nursing Facilities) industry (NAICS 623110), part of the Health Care and Social Assistance sector of the economy. The applicant reported 500 jobs as retained through this loan.
The SBA forgave $9,141,835.17 of this loan — 101.4% of the total approved amount, with forgiveness recorded on Aug 26, 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: $8,242,553 to utilities, $777,007 to health care costs. The payroll component represents 0.0% 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 Louisiana, visit the Louisiana page. To compare this loan with others in the same industry, see the Nursing Care Facilities (Skilled Nursing Facilities) industry page.