PPP Loan Data — Choice Long Island Inc, Hauppauge, NY
Choice Long Island Inc is a subchapter s corporation located at 700 Veterans Hwy Ste Cl140 in Hauppauge, New York that received a Coronavirus-related PPP loan from the SBA of $3,900,060.00 in April, 2020.
$ PPP Loan Information
Lender:HSBC BANK USA, NATIONAL ASSOCIATION
Choice Long Island Inc in Hauppauge, NY received a Paycheck Protection Loan of $3.9M through HSBC BANK USA, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Choice Long Island Inc's total 2019 payroll expenses were approximately $18.72M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $37,441 per employee1.
Business Information - Choice Long Island Inc in Hauppauge, NY
700 Veterans Hwy Ste Cl140
Hauppauge, NY 11788
Human Resources Consulting Services (NAICS code 541612)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: NY-01
Similar Companies near Hauppauge
In the Hauppauge area, 2 businesses in the "Human Resources Consulting Services" industry received a PPP loan. These local businesses reported an average of 255 employees (compared to this company's 500) and received an average PPP loan of $2,008,146 (compared to this company's $3.9M).
Similar Nearby Businesses Who Received PPP Funding:
Compass Workforce Solutions, LLC
Industry PPP Comparison Statistics
Nationwide, 4,762 businesses in the "Human Resources Consulting Services" industry received a total of $618,531,209.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 11 employees, 98% lower than Choice Long Island Inc's reported 500 employees, and received an average PPP loan of $129,889, 97% lower than this company's loan of $3.9M.
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, and is published unmodified, as provided by the SBA.
Footnotes & Information
1. 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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