PPP Loan Data — First Step Inc, Hot Springs National Park, AR
First Step Inc
Entity: Non-profit Organization
Location: Hot Springs National Park, ARTweet This • Search All PPP Data
First Step Inc is a non-profit organization located at 407 Carson St in Hot Springs National Park, Arkansas that received a Coronavirus-related PPP loan from the SBA of $3,635,000.00 in April, 2020.
$ PPP Loan Information
First Step Inc in Hot Springs National Park, AR received a Paycheck Protection Loan of $3.64M through ARVEST BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, First Step Inc's total 2019 payroll expenses were approximately $17.45M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $34,896 per employee1.
Business Information - First Step Inc in Hot Springs National Park, AR
407 Carson St
Hot Springs National Park, AR 71901
Services for the Elderly and Persons with Disabilities (NAICS code 624120)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: AR-04
Similar Companies near Hot Springs National Park
In the Hot Springs National Park area, 2 businesses in the "Services for the Elderly and Persons with Disabilities" industry received a PPP loan. These local businesses reported an average of 253 employees (compared to this company's 500) and received an average PPP loan of $1,835,450 (compared to this company's $3.64M).
Similar Nearby Businesses Who Received PPP Funding:
The Caring Place Of Hot Springs, Inc.
Hot Springs National Park, AR
Industry PPP Comparison Statistics
Nationwide, 7,046 businesses in the "Services for the Elderly and Persons with Disabilities" industry received a total of $1,535,554,395.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 32 employees, 94% lower than First Step Inc's reported 500 employees, and received an average PPP loan of $217,933, 94% lower than this company's loan of $3.64M.
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, and is published unmodified, as provided by the SBA.
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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