MEMORIAL HOSPITAL OF CONVERSE COUNTY
PPP Loan approved Apr 15, 2020 through The Converse County Bank
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $5,075,202.00 | 80.0% |
| Utilities | $518,798.00 | 8.2% |
| Mortgage Interest | $750,000.00 | 11.8% |
About This Loan
MEMORIAL HOSPITAL OF CONVERSE COUNTY received a PPP loan of $6,344,000 approved on Apr 15, 2020. The loan was originated by The Converse County Bank.
MEMORIAL HOSPITAL OF CONVERSE COUNTY is a non-profit organization located in DOUGLAS, Wyoming. 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 General Medical and Surgical Hospitals industry (NAICS 622110), part of the Health Care and Social Assistance sector of the economy. The applicant reported 413 jobs as retained through this loan.
The SBA forgave $6,417,173.26 of this loan — 101.2% of the total approved amount, with forgiveness recorded on Jun 11, 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: $5,075,202 to payroll, $518,798 to utilities, $750,000 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 Wyoming, visit the Wyoming page. To compare this loan with others in the same industry, see the General Medical and Surgical Hospitals industry page.