PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Hillcrest Family Services, Dubuque, IA

ALERT: There are 2 PPP loans for a total of $5.2M in our database for businesses with the name "Hillcrest Family Services" in Dubuque, IA. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Hillcrest Family Services
IA Nonprofit Organization

Hillcrest Family Services

Entity: Non-profit Organization

Industry: Other Individual and Family Services

Location: Dubuque, IA

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Hillcrest Family Services is a non-profit organization located at 2005 Asbury Rd in Dubuque, Iowa that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in April, 2021.

The company has reported itself as a White male owned non-profit, and employed at least 300 people during the applicable loan loan period.

$ PPP Loan Information
Loan #5152148707

Loan Size:

$2M

Jobs Retained:

300

Loan Approved:

2021-04-02

Loan Status:

Ongoing Loan

Lender:

Fidelity Bank & Trust

Hillcrest Family Services in Dubuque, IA received a Paycheck Protection Loan of $2M through Fidelity Bank & Trust, which was approved in April, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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 Family Services' 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 300 jobs retained, this equals an estimated average yearly compensation of $32,000 per employee1

Reported PPP Proceed Usage:

On the PPP application, Hillcrest Family Services reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,999,995
  • Utilities: $1
Because the loan received by Hillcrest Family Services 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 - Hillcrest Family Services in Dubuque, IA

Hillcrest Family Services
2005 Asbury Rd
Dubuque, IA 52001

Business Industry:
Other Individual and Family Services
NAICS code 624190

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Dubuque County, IA — SBA Office 0736 — Congressional District: IA-01

Similar Companies near Dubuque

In the Dubuque area, 8 businesses in the "Other Individual and Family Services" industry received a PPP loan. These local businesses reported an average of 48 employees (compared to this company's 300) and received an average PPP loan of $332,066 (compared to this company's $2M).

Industry PPP Comparison Statistics

Nationwide, 41,101 businesses in the "Other Individual and Family Services" industry received a total of $3.39B 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 12 employees, 96% lower than Hillcrest Family Services' reported 300 employees, and received an average PPP loan of $82,376, 96% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for Hillcrest Family Services
IA Nonprofit Organization

Hillcrest Family Services

Entity: Non-profit Organization

Industry: Other Residential Care Facilities

Location: Dubuque, IA

Search All PPP Data

Hillcrest Family Services is a non-profit organization located at 2005 Asbury Rd in Dubuque, Iowa that received a Coronavirus-related PPP loan from the SBA of $3,195,000.00 in April, 2020.

The company has reported itself as a male owned non-profit, and employed at least 243 people during the applicable loan loan period.

$ PPP Loan Information
Loan #9524757009

Loan Size:

$3.2M

Jobs Retained:

243

Loan Approved:

2020-04-09

Loan Status:

Ongoing Loan

Lender:

Fidelity Bank & Trust

Hillcrest Family Services in Dubuque, IA received a Paycheck Protection Loan of $3.2M through Fidelity Bank & Trust, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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 Family Services' 2019 payroll expenses are estimated to be at least $15.34M.

Based on their reported 243 jobs retained, this equals an estimated average yearly compensation of $63,111 per employee1

Reported PPP Proceed Usage:

On the PPP application, Hillcrest Family Services reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $3,195,000
Because the loan received by Hillcrest Family Services 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 - Hillcrest Family Services in Dubuque, IA

Hillcrest Family Services
2005 Asbury Rd
Dubuque, IA 52001

Business Industry:
Other Residential Care Facilities
NAICS code 623990

Business Owner Demographics

Race: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Dubuque County, IA — SBA Office 0736 — Congressional District: IA-01

Similar Companies near Dubuque

In the Dubuque area, 2 businesses in the "Other Residential Care Facilities" industry received a PPP loan. These local businesses reported an average of 127 employees (compared to this company's 243) and received an average PPP loan of $1,614,000 (compared to this company's $3.2M).

Similar Nearby Businesses Who Received PPP Funding:

Mary's Inn
Dubuque, IA

$33,000 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 7,228 businesses in the "Other Residential Care Facilities" industry received a total of $973.74M 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 20 employees, 92% lower than Hillcrest Family Services' reported 243 employees, and received an average PPP loan of $134,718, 96% lower than this company's loan of $3.2M.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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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Source: www.federalpay.org/paycheck-protection-program/hillcrest-family-services-dubuque-ia