WILMINGTON HEALTH, PLLC
PPP Loan approved May 6, 2020 through BankChampaign, National Association
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $6,815,206.79 | 75.0% |
| Utilities | $1,135,867.80 | 12.5% |
| Rent / Lease | $1,135,867.80 | 12.5% |
About This Loan
WILMINGTON HEALTH, PLLC received a PPP loan of $9,086,942 approved on May 6, 2020. The loan was originated by BankChampaign, National Association.
WILMINGTON HEALTH, PLLC is a limited liability company(llc) located in WILMINGTON, North Carolina. 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 500 jobs as retained through this loan.
The SBA forgave $9,236,067.83 of this loan — 101.6% of the total approved amount, with forgiveness recorded on Jan 10, 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: $6,815,207 to payroll, $1,135,868 to utilities, $1,135,868 to rent or lease obligations. 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 North Carolina, visit the North Carolina page. To compare this loan with others in the same industry, see the Offices of Physicians industry page.