PPP Loan Data — Heartshare Human Services Of New York, Brooklyn, NY
Heartshare Human Services Of New York is a non-profit organization located at 12 Metrotech Ctr 29th Floor in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $1,900,000.00 in July, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Ridgewood Savings Bank
Heartshare Human Services Of New York in Brooklyn, NY received a Paycheck Protection Loan of $1.9M through Ridgewood Savings Bank, which was approved in July, 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, Heartshare Human Services Of New York's 2019 payroll expenses are estimated to be at least $9.12M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $18,240 per employee1
Reported PPP Proceed Usage:
On the PPP application, Heartshare Human Services Of New York reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,900,000
Business Information - Heartshare Human Services Of New York in Brooklyn, NY
12 Metrotech Ctr 29th Floor
Brooklyn, NY 11201
Home Health Care Services
NAICS code 621610
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Brooklyn
In the Brooklyn area, 4 businesses in the "Home Health Care Services" industry received a PPP loan. These local businesses reported an average of 238 employees (compared to this company's 500) and received an average PPP loan of $955,315 (compared to this company's $1.9M).
Similar Nearby Businesses Who Received PPP Funding:
ST. Vincent's Services, Inc
Inca Consulting Inc
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, 97% lower than Heartshare Human Services Of New York's reported 500 employees, and received an average PPP loan of $83,373, 96% lower than this company's loan of $1.9M.
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Footnotes & Information
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