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PPP Loan Data — Advanced Home Care Services Inc,
Brooklyn, NY
Advanced Home Care Services Inc
Entity: Subchapter S Corporation
Industry: Home Health Care Services
Location: Brooklyn, NY
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Advanced Home Care Services Inc is a subchapter s corporation located at 3865 Surf Ave in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $2,443,142.00 in April, 2020.
$
PPP Loan Information
Loan #2902057203
Loan Size:
Jobs Retained:
472Loan Approved:
2020-04-16Loan Status:
Paid in Full or ForgivenLender:
JPMorgan Chase Bank, National AssociationAdvanced Home Care Services Inc in Brooklyn, NY received a Paycheck Protection Loan of $2.44M through JPMorgan Chase Bank, National Association, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in October, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Advanced Home Care Services Inc's 2019 payroll expenses are estimated to be at least $11.73M.
Based on their reported 472 jobs retained, this equals an estimated average yearly compensation of $24,846 per employee1
Reported PPP Proceed Usage:
On the PPP application, Advanced Home Care Services Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,984,000
- Utilities: $870
- Rent: $11,790
- Health Care: $446,482
Business Information - Advanced Home Care Services Inc in Brooklyn, NY
3865 Surf Ave
Brooklyn, NY 11224
Business Industry:
Home Health Care Services
NAICS code 621610
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as Advanced Home Care Services Inc.
E-Z Dental Care PC
All Other Miscellaneous Ambulatory Health Care Services
Similar Companies near Brooklyn
In the Brooklyn area, 53 businesses in the "Home Health Care Services" industry received a PPP loan. These local businesses reported an average of 91 employees (compared to this company's 472) and received an average PPP loan of $808,971 (compared to this company's $2.44M).
Similar Nearby Businesses Who Received PPP Funding:
Joenivie Madelo
Brooklyn, NY
Paramount Home Care Agency Inc
Brooklyn, NY
Aaliyah West
Brooklyn, NY
High Standard Home Care Inc
Brooklyn, NY
Aminat Tolbert
Brooklyn, NY
Heart To Heart Home Care Inc
Brooklyn, NY
Kenneth Venere Physical Therapy
Brooklyn, NY
Timothy James
Brooklyn, NY
Patricia Peprah
Brooklyn, NY
Industry PPP Comparison Statistics
Nationwide, 87,627 businesses in the "Home Health Care Services" industry received a total of $7.58B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 16 employees, 97% lower than Advanced Home Care Services Inc's reported 472 employees, and received an average PPP loan of $86,486, 96% lower than this company's loan of $2.44M.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.
All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
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