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PPP Loan Data — Fairview Nursing Care Center,
Forest Hills, NY
Fairview Nursing Care Center
Entity: Corporation
Industry: Nursing Care Facilities (Skilled Nursing Facilities)
Location: Forest Hills, NY
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Fairview Nursing Care Center is a corporation located at 6970 Grand Central Parkway in Forest Hills, New York that received a Coronavirus-related PPP loan from the SBA of $1,468,713.00 in April, 2020.
$
PPP Loan Information
Loan #9349457004
Loan Size:
Jobs Retained:
130Loan Approved:
2020-04-09Loan Status:
Ongoing LoanLender:
Dime Community BankFairview Nursing Care Center in Forest Hills, NY received a Paycheck Protection Loan of $1.47M through Dime Community 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
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, Fairview Nursing Care Center's 2019 payroll expenses are estimated to be at least $7.05M.
Based on their reported 130 jobs retained, this equals an estimated average yearly compensation of $54,229 per employee1
Reported PPP Proceed Usage:
On the PPP application, Fairview Nursing Care Center reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,468,713
Business Information - Fairview Nursing Care Center in Forest Hills, NY
6970 Grand Central Parkway
Forest Hills, NY 11691
Business Industry:
Nursing Care Facilities (Skilled Nursing Facilities)
NAICS code 623110
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
Similar Companies near Forest Hills
In the Forest Hills area, 25 businesses in the "Nursing Care Facilities (Skilled Nursing Facilities)" industry received a PPP loan. These local businesses reported an average of 113 employees (compared to this company's 130) and received an average PPP loan of $1,268,519 (compared to this company's $1.47M).
Similar Nearby Businesses Who Received PPP Funding:
Lawrence Nursing Care Center, Inc
Arverne, NY
Resort Nursing Home
Arverne, NY
Long Island Living Center LLC
Far Rockaway, NY
Ocean Gardens Nursing Facility Inc
Arverne, NY
West Lawrence Realty LLC
Far Rockaway, NY
Wavecrest Hfa Inc
Far Rockaway, NY
Haven Manor Health Care Center LLC
Far Rockaway, NY
Brookhaven Rehab Healthcare Center
Far Rockaway, NY
Industry PPP Comparison Statistics
Nationwide, 15,360 businesses in the "Nursing Care Facilities (Skilled Nursing Facilities)" industry received a total of $6.8B 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 60 employees, 54% lower than Fairview Nursing Care Center's reported 130 employees, and received an average PPP loan of $442,944, 70% lower than this company's loan of $1.47M.
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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