PPP Loan Data — High Watch Recovery Center Inc, Kent, CT
High Watch Recovery Center Inc is a non-profit organization located at 62 Carter Road Po Box 607 in Kent, Connecticut that received a Coronavirus-related PPP loan from the SBA of $1,628,900.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Union Savings Bank
High Watch Recovery Center Inc in Kent, CT received a Paycheck Protection Loan of $1.63M through Union Savings Bank, 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 January, 2021.
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, High Watch Recovery Center Inc's 2019 payroll expenses are estimated to be at least $7.82M.
Based on their reported 107 jobs retained, this equals an estimated average yearly compensation of $73,072 per employee1
Reported PPP Proceed Usage:
On the PPP application, High Watch Recovery Center Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,628,900
Business Information - High Watch Recovery Center Inc in Kent, CT
62 Carter Road Po Box 607
Kent, CT 6757
Vocational Rehabilitation Services
NAICS code 624310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Kent
In the Kent area, 3 businesses in the "Vocational Rehabilitation Services" industry received a PPP loan. These local businesses reported an average of 36 employees (compared to this company's 107) and received an average PPP loan of $556,875 (compared to this company's $1.63M).
Similar Nearby Businesses Who Received PPP Funding:
Precision Sales Coaching & Training LLC
Industry PPP Comparison Statistics
Nationwide, 3,932 businesses in the "Vocational Rehabilitation Services" industry received a total of $878.96M 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 32 employees, 70% lower than High Watch Recovery Center Inc's reported 107 employees, and received an average PPP loan of $223,541, 86% lower than this company's loan of $1.63M.
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Footnotes & Information
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