PPP Loan Data — Harc Inc, Hartford, CT
Harc Inc is a non-profit organization located at 900 Asylum Ave in Hartford, Connecticut that received a Coronavirus-related PPP loan from the SBA of $2,428,670.00 in May, 2020.
$ PPP Loan Information
Lender:BANK OF AMERICA, NATIONAL ASSOCIATION
Harc Inc in Hartford, CT received a Paycheck Protection Loan of $2.43M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in May, 2020.
Based on standard PPP eligibility rules, Harc Inc's total 2019 payroll expenses were approximately $11.66M in order to qualify for the PPP loan amount received.
Based on their reported 417 jobs retained, this equals an estimated average yearly compensation of $27,956 per employee1.
Business Information - Harc Inc in Hartford, CT
900 Asylum Ave
Hartford, CT 06105
Other Individual and Family Services (NAICS code 624190)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: CT-01
Similar Companies near Hartford
In the Hartford area, 9 businesses in the "Other Individual and Family Services" industry received a PPP loan. These local businesses reported an average of 125 employees (compared to this company's 417) and received an average PPP loan of $889,178 (compared to this company's $2.43M).
Similar Nearby Businesses Who Received PPP Funding:
Catholic Charities Inc - Archdiocese Of Hartford
Connecticut Community For Addiction Recovery, Inc.
Jewish Association For Community Living
World Affairs Council Of Connecticut, Inc.
Literacy Volunteers Of Greater Hartford, Inc.
My Sister's Place Inc
Aids Connecticut Inc
Hispanic Health Council Inc
Industry PPP Comparison Statistics
Nationwide, 15,794 businesses in the "Other Individual and Family Services" industry received a total of $2,302,146,944.00 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 17 employees, 96% lower than Harc Inc's reported 417 employees, and received an average PPP loan of $145,761, 94% lower than this company's loan of $2.43M.
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.
Have FederalPay.org's open data tools been valuable? Consider donating!