MILESTONES PHYSICAL THERAPY, INC.
PPP Loan approved Apr 16, 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 | $357,780.00 | 89.4% |
| Utilities | $300.00 | 0.1% |
| Rent / Lease | $20,000.00 | 5.0% |
| Health Care | $22,000.00 | 5.5% |
About This Loan
MILESTONES PHYSICAL THERAPY, INC. received a PPP loan of $400,080 approved on Apr 16, 2020. The loan was originated by JPMorgan Chase Bank, National Association.
MILESTONES PHYSICAL THERAPY, INC. is a subchapter s corporation located in HURRICANE, 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 Offices of Other Health Practitioners industry (NAICS 621340), part of the Health Care and Social Assistance sector of the economy. The applicant reported 42 jobs as retained through this loan.
The SBA forgave $403,096.83 of this loan — 100.8% of the total approved amount, with forgiveness recorded on Jan 20, 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: $357,780 to payroll, $300 to utilities, $20,000 to rent or lease obligations, $22,000 to health care costs. The payroll component represents 89.4% 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 Offices of Other Health Practitioners industry page.