PPP Loan Data — Hillcrest Convalescent Center, Inc, Durham, NC
Hillcrest Convalescent Center, Inc
Location: Durham, NCTweet This • Search All PPP Data
Hillcrest Convalescent Center, Inc is a corporation located at 1417 W. Pettigrew St. in Durham, North Carolina that received a Coronavirus-related PPP loan from the SBA of $2,068,986.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Truist Bank d/b/a Branch Banking & Trust Co
Hillcrest Convalescent Center, Inc in Durham, NC received a Paycheck Protection Loan of $2.07M through Truist Bank d/b/a Branch Banking & Trust Co, which was approved in May, 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, Hillcrest Convalescent Center, Inc's 2019 payroll expenses are estimated to be at least $9.93M.
Based on their reported 441 jobs retained, this equals an estimated average yearly compensation of $22,520 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hillcrest Convalescent Center, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,068,986
Business Information - Hillcrest Convalescent Center, Inc in Durham, NC
1417 W. Pettigrew St.
Durham, NC 27705
Nursing Care Facilities (Skilled Nursing Facilities)
NAICS code 623110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Durham
In the Durham area, 6 businesses in the "Nursing Care Facilities (Skilled Nursing Facilities)" industry received a PPP loan. These local businesses reported an average of 123 employees (compared to this company's 441) and received an average PPP loan of $740,894 (compared to this company's $2.07M).
Similar Nearby Businesses Who Received PPP Funding:
Accordius Health At Rose Manor LLC
Durham Rehab Operations, LLC
Tower Of Blessing A Refuge To Seek
Carver Healthcare LLC
Industry PPP Comparison Statistics
Nationwide, 15,360 businesses in the "Nursing Care Facilities (Skilled Nursing Facilities)" industry received a total of $6.8B 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 60 employees, 86% lower than Hillcrest Convalescent Center, Inc's reported 441 employees, and received an average PPP loan of $442,944, 79% lower than this company's loan of $2.07M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!