PPP Loan Data — Family Service Society Of Yonkers, Yonkers, NY
Family Service Society Of Yonkers is a corporation located at 30 South Broadway, 5th Floor in Yonkers, New York that received a Coronavirus-related PPP loan from the SBA of $1,930,400.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Loan Source Incorporated
Family Service Society Of Yonkers in Yonkers, NY received a Paycheck Protection Loan of $1.93M through Loan Source Incorporated, which was approved in April, 2020.
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, Family Service Society Of Yonkers' 2019 payroll expenses are estimated to be at least $9.27M.
Based on their reported 345 jobs retained, this equals an estimated average yearly compensation of $26,858 per employee1
Reported PPP Proceed Usage:
On the PPP application, Family Service Society Of Yonkers reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,930,400
Business Information - Family Service Society Of Yonkers in Yonkers, NY
30 South Broadway, 5th Floor
Yonkers, NY 10701
Home Health Care Services
NAICS code 621610
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Yonkers
In the Yonkers area, 13 businesses in the "Home Health Care Services" industry received a PPP loan. These local businesses reported an average of 27 employees (compared to this company's 345) and received an average PPP loan of $161,516 (compared to this company's $1.93M).
Similar Nearby Businesses Who Received PPP Funding:
Evelyn Baffour Awuah
Rene Ariel Sison
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, 96% lower than Family Service Society Of Yonkers' reported 345 employees, and received an average PPP loan of $83,373, 96% lower than this company's loan of $1.93M.
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Footnotes & Information
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