PPP Loan Data — Edina Home Health Care LLC, Minneapolis, MN
Edina Home Health Care LLC is a limited liability company (LLC) located at 912 E 24th St Ste M112 in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $25,300.00 in January, 2021.
The company has reported itself as a Black or african american male owned business, and employed at least eleven people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Sunrise Banks, National Association
Edina Home Health Care LLC in Minneapolis, MN received a Paycheck Protection Loan of $25,300 through Sunrise Banks, National Association, which was approved in January, 2021.
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, Edina Home Health Care LLC's 2019 payroll expenses are estimated to be at least $121,440.
Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $11,040 per employee1
Reported PPP Proceed Usage:
On the PPP application, Edina Home Health Care LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,300
Business Information - Edina Home Health Care LLC in Minneapolis, MN
912 E 24th St Ste M112
Minneapolis, MN 55404
Home Health Care Services
NAICS code 621610
Business Owner Demographics
Race: Black or African American
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Minneapolis
In the Minneapolis area, 59 businesses in the "Home Health Care Services" industry received a PPP loan. These local businesses reported an average of 90 employees (compared to this company's 11) and received an average PPP loan of $396,089 (compared to this company's $25,300).
Similar Nearby Businesses Who Received PPP Funding:
Ebyan Health Home Care LLC
First Choice Home Care Inc
Twin City Home Healthcare LLC
Samafala Home Healthcare Inc
Wood Hill Home Care LLC
Care For You Inc
Midwest Home Health Care, Inc
More Life Home Care LLC
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, 36% higher than Edina Home Health Care LLC's reported 11 employees, and received an average PPP loan of $83,373, 230% higher than this company's loan of $25,300.
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Footnotes & Information
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