COMMUNITY HEALTH SYSTEMS, INC.
PPP Loan approved Apr 7, 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 |
|---|---|---|
| Payroll | $4,065,560.00 | 88.0% |
| Health Care | $555,180.00 | 12.0% |
About This Loan
COMMUNITY HEALTH SYSTEMS, INC. received a PPP loan of $4,620,740 approved on Apr 7, 2020. The loan was originated by JPMorgan Chase Bank, National Association.
COMMUNITY HEALTH SYSTEMS, INC. is a corporation located in BECKLEY, West Virginia. At the time of the application, the business was described as "existing or more than 2 years old".
The business operates in the Outpatient Care Centers industry (NAICS 621498), part of the Health Care and Social Assistance sector of the economy. The applicant reported 343 jobs as retained through this loan.
The SBA forgave $4,680,740.31 of this loan — 101.3% of the total approved amount, with forgiveness recorded on Jul 30, 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: $4,065,560 to payroll, $555,180 to health care costs. The payroll component represents 88.0% 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 West Virginia, visit the West Virginia page. To compare this loan with others in the same industry, see the Outpatient Care Centers industry page.