PPP Loan Data — Custom Home Health, Inc, Troy, MI
Custom Home Health, Inc is a subchapter s corporation located at 888 W. Big Beaver Rd., Suite 900 in Troy, Michigan that received a Coronavirus-related PPP loan from the SBA of $2,281,500.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Custom Home Health, Inc in Troy, MI received a Paycheck Protection Loan of $2.28M through Comerica Bank, which was approved in April, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based 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, Custom Home Health, Inc's 2019 payroll expenses are estimated to be at least $10.95M.
Based on their reported 204 jobs retained, this equals an estimated average yearly compensation of $53,682 per employee1
Reported PPP Proceed Usage:
On the PPP application, Custom Home Health, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,825,237
- Mortgage Interest: $456,263
Business Information - Custom Home Health, Inc in Troy, MI
888 W. Big Beaver Rd., Suite 900
Troy, MI 48084
Home Health Care Services
NAICS code 621610
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Troy
In the Troy area, 73 businesses in the "Home Health Care Services" industry received a PPP loan. These local businesses reported an average of 28 employees (compared to this company's 204) and received an average PPP loan of $185,858 (compared to this company's $2.28M).
Similar Nearby Businesses Who Received PPP Funding:
Mcguffey Home Health Care LLC
Care One Medical Equipment And Supplies Inc
Provision Home Care LLC
Advanced Professional Home Health Care, Inc
Atlantic Home Health Care Inc
MM Faith Corp
Industry PPP Comparison Statistics
Nationwide, 91,996 businesses in the "Home Health Care Services" industry received a total of $7.67B 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 15 employees, 93% lower than Custom Home Health, Inc's reported 204 employees, and received an average PPP loan of $83,373, 96% lower than this company's loan of $2.28M.
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Footnotes & Information
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