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PPP Loan Data — Headway HR Solutions, Raleigh, NC

SBA PPP loan data, payroll data, and salaries for Headway HR Solutions
NC

Headway HR Solutions

Entity: Corporation

Industry: Employment Placement Agencies

Location: Raleigh, NC

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Headway HR Solutions is a corporation located at 3100 Smoketree Ct. Suite 900 in Raleigh, North Carolina that received a Coronavirus-related PPP loan from the SBA of $7,000,000.00 in April, 2020.

The company has reported itself as a female owned business, and employed at least 494 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$7M

Jobs Retained:

494

Loan Approved:

2020-04-27

Lender:

CELTIC BANK CORPORATION

Headway HR Solutions in Raleigh, NC received a Paycheck Protection Loan of $7M through CELTIC BANK CORPORATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Headway HR Solutions' total 2019 payroll expenses were approximately $33.6M in order to qualify for the PPP loan amount received.

Based on their reported 494 jobs retained, this equals an estimated average yearly compensation of $68,016 per employee1.

Because the loan received by Headway HR Solutions 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 - Headway HR Solutions in Raleigh, NC

Headway HR Solutions
3100 Smoketree Ct. Suite 900
Raleigh, NC 27604

Business Industry

Employment Placement Agencies (NAICS code 561311)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: FEMALE OWNED

Veteran Status: NON-VETERAN

Congressional District: NC-04

Similar Companies near Raleigh

In the Raleigh area, 4 businesses in the "Employment Placement Agencies" industry received a PPP loan. These local businesses reported an average of 351 employees (compared to this company's 494) and received an average PPP loan of $4,730,317 (compared to this company's $7M).

Industry PPP Comparison Statistics

Nationwide, 7,294 businesses in the "Employment Placement Agencies" industry received a total of $2,648,453,106.00 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 38 employees, 92% lower than Headway HR Solutions' reported 494 employees, and received an average PPP loan of $363,100, 95% lower than this company's loan of $7M.

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.

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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/headway-hr-solutions-raleigh-nc