NORTHERN COUNTIES HEALTH CARE
PPP Loan approved Apr 6, 2020 through Community National Bank
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $2,826,874.00 | 80.0% |
| Utilities | $200,000.00 | 5.7% |
| Mortgage Interest | $505,426.00 | 14.3% |
About This Loan
NORTHERN COUNTIES HEALTH CARE received a PPP loan of $3,532,300 approved on Apr 6, 2020. The loan was originated by Community National Bank.
NORTHERN COUNTIES HEALTH CARE is a corporation located in SAINT JOHNSBURY, Vermont. At the time of the application, the business was described as "existing or more than 2 years old".
The business operates in the Home Health Care Services industry (NAICS 621610), part of the Health Care and Social Assistance sector of the economy. The applicant reported 280 jobs as retained through this loan.
The SBA forgave $3,573,332.75 of this loan — 101.2% of the total approved amount, with forgiveness recorded on Jul 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: $2,826,874 to payroll, $200,000 to utilities, $505,426 to mortgage interest. The payroll component represents 80.0% 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 Vermont, visit the Vermont page. To compare this loan with others in the same industry, see the Home Health Care Services industry page.