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PPP Loan Data — Family & Nursing Care Inc., Silver Spring, MD

SBA PPP loan data, payroll data, and salaries for Family & Nursing Care Inc.
MD

Family & Nursing Care Inc.

Entity: Subchapter S Corporation

Industry: Home Health Care Services

Location: Silver Spring, MD

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Family & Nursing Care Inc. is a subchapter s corporation located at 1010 Wayne Ave #1100 in Silver Spring, Maryland that received a Coronavirus-related PPP loan from the SBA of $3,860,317.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.86M

Jobs Retained:

488

Loan Approved:

2020-04-14

Lender:

MANUFACTURERS AND TRADERS TRUST COMPANY

Family & Nursing Care Inc. received a Paycheck Protection Loan of $3.86M through MANUFACTURERS AND TRADERS TRUST COMPANY, which was approved in April, 2020.

Based on standard PPP eligibility rules, Family & Nursing Care Inc.'s total 2019 payroll expenses were approximately $18.53M in order to qualify for the PPP loan amount received.

Based on their reported 488 jobs retained, this equals an estimated average yearly compensation of $37,970 per employee1.

Because the loan received by Family & Nursing Care Inc. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Family & Nursing Care Inc. in Silver Spring, MD

Family & Nursing Care Inc.
1010 Wayne Ave #1100
Silver Spring, MD 20910

Business Industry

Home Health Care Services (NAICS code 621610)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MD-08

Similar Companies near Silver Spring

In the Silver Spring area, 12 businesses in the "Home Health Care Services" industry received a PPP loan. These local businesses reported an average of 112 employees (compared to this company's 488) and received an average PPP loan of $797,541 (compared to this company's $3.86M).

Industry PPP Comparison Statistics

Nationwide, 25,078 businesses in the "Home Health Care Services" industry received a total of $5,322,458,293.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 34 employees, 93% lower than Family & Nursing Care Inc.'s reported 488 employees, and received an average PPP loan of $212,236, 95% lower than this company's loan of $3.86M.

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.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/family-and-nursing-care-inc-silver-spring-md