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PPP Loan Data — Good Hands Home Care &Adult Services LLC,
Euclid, OH
Good Hands Home Care &Adult Services LLC
Entity: Limited Liability Company (LLC)
Industry: Home Health Care Services
Location: Euclid, OH
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Good Hands Home Care &Adult Services LLC is a limited liability company (LLC) located at 25000 Euclid Ave Ste 300 in Euclid, Ohio that received a Coronavirus-related PPP loan from the SBA of $105,484.00 in February, 2021.
The company has reported itself as a female owned business, and employed at least 35 people during the applicable loan loan period.
$
PPP Loan Information
Loan #8285408405
Loan Size:
Jobs Retained:
35Loan Approved:
2021-02-13Loan Status:
Paid in Full or ForgivenLender:
Community Federal Savings BankGood Hands Home Care &Adult Services LLC in Euclid, OH received a Paycheck Protection Loan of $105,484 through Community Federal Savings Bank, which was approved in February, 2021.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in September, 2021.
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, Good Hands Home Care &Adult Services LLC's 2019 payroll expenses are estimated to be at least $506,323.
Based on their reported 35 jobs retained, this equals an estimated average yearly compensation of $14,466 per employee1
Reported PPP Proceed Usage:
On the PPP application, Good Hands Home Care &Adult Services LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $105,478
- Utilities: $1
Business Information - Good Hands Home Care &Adult Services LLC in Euclid, OH
25000 Euclid Ave Ste 300
Euclid, OH 44117
Business Industry:
Home Health Care Services
NAICS code 621610
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Euclid
In the Euclid area, 77 businesses in the "Home Health Care Services" industry received a PPP loan. These local businesses reported an average of 28 employees (compared to this company's 35) and received an average PPP loan of $139,510 (compared to this company's $105,484).
Similar Nearby Businesses Who Received PPP Funding:
Sable White
Cleveland Heights, OH
Britany Maxton
Cleveland, OH
Siomara Elliott
Cleveland Heights, OH
Maurice Hereford
Cleveland, OH
Deyanna Bohanon
Cleveland, OH
Andrea Lockhart
Cleveland, OH
Laquanda Taylor
Euclid, OH
Gregory Deleon
Cleveland Heights, OH
Elite Home Health Services LLC
Cleveland Heights, OH
Industry PPP Comparison Statistics
Nationwide, 87,576 businesses in the "Home Health Care Services" industry received a total of $7.58B 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 16 employees, 54% lower than Good Hands Home Care &Adult Services LLC's reported 35 employees, and received an average PPP loan of $86,526, 18% lower than this company's loan of $105,484.
Good Hands Home Care & Adult Services LLC
Entity: Limited Liability Company (LLC)
Industry: All Other Miscellaneous Ambulatory Health Care Services
Location: Euclid, OH
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Good Hands Home Care & Adult Services LLC is a limited liability company (LLC) located at 25000 Euclid Avenue in Euclid, Ohio that received a Coronavirus-related PPP loan from the SBA of $112,500.00 in April, 2020.
The company has reported itself as a female owned business, and employed at least 45 people during the applicable loan loan period.
$
PPP Loan Information
Loan #7603627309
Loan Size:
Jobs Retained:
45Loan Approved:
2020-04-30Loan Status:
Paid in Full or ForgivenLender:
Celtic Bank CorporationGood Hands Home Care & Adult Services LLC in Euclid, OH received a Paycheck Protection Loan of $112,500 through Celtic Bank Corporation, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in August, 2021.
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, Good Hands Home Care & Adult Services LLC's 2019 payroll expenses are estimated to be at least $540,000.
Based on their reported 45 jobs retained, this equals an estimated average yearly compensation of $12,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Good Hands Home Care & Adult Services LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $84,375
- Utilities: $14,063
- Rent: $14,063
Business Information - Good Hands Home Care & Adult Services LLC in Euclid, OH
25000 Euclid Avenue
Euclid, OH 44117
Business Industry:
All Other Miscellaneous Ambulatory Health Care Services
NAICS code 621999
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Euclid
In the Euclid area, 9 businesses in the "All Other Miscellaneous Ambulatory Health Care Services" industry received a PPP loan. These local businesses reported an average of 55 employees (compared to this company's 45) and received an average PPP loan of $345,913 (compared to this company's $112,500).
Similar Nearby Businesses Who Received PPP Funding:
Maysville Fellowship Medical Aid Plan, Inc
South Euclid, OH
Horizon Health Services LLC
Cleveland Hts, OH
Xcel Healthcare Providers, Inc
Cleveland Heights, OH
Connecting Hearts Health Care LLC
Cleveland Hts, OH
Kimberly Dahodwala
Rocky River, OH
Credentialing Corporation Of America Inc
Rocky River, OH
Power Of Life, LLC
Rocky River, OH
Dominique Coleman
Cleveland, OH
Industry PPP Comparison Statistics
Nationwide, 18,445 businesses in the "All Other Miscellaneous Ambulatory Health Care Services" industry received a total of $1.65B 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 12 employees, 73% lower than Good Hands Home Care & Adult Services LLC's reported 45 employees, and received an average PPP loan of $89,298, 21% lower than this company's loan of $112,500.
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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