PPP Loan Data — Holiday Retirement Home, Inc, Hartford, CT
Holiday Retirement Home, Inc
Location: Hartford, CTTweet This • Search All PPP Data
Holiday Retirement Home, Inc is a corporation located at 670 Prospect Ave 2a in Hartford, Connecticut that received a Coronavirus-related PPP loan from the SBA of $1,676,000.00 in April, 2020.
The company has reported itself as a White owned business, and employed at least 225 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Citizens Bank, National Association
Holiday Retirement Home, Inc in Hartford, CT received a Paycheck Protection Loan of $1.68M through Citizens Bank, National Association, which was approved in April, 2020.
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, Holiday Retirement Home, Inc's 2019 payroll expenses are estimated to be at least $8.04M.
Based on their reported 225 jobs retained, this equals an estimated average yearly compensation of $35,755 per employee1
Reported PPP Proceed Usage:
On the PPP application, Holiday Retirement Home, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,676,000
Business Information - Holiday Retirement Home, Inc in Hartford, CT
670 Prospect Ave 2a
Hartford, CT 6105
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: N
Rural / Urban: Urban
Similar Companies near Hartford
In the Hartford area, 2 businesses in the "Nursing Care Facilities (Skilled Nursing Facilities)" industry received a PPP loan. These local businesses reported an average of 118 employees (compared to this company's 225) and received an average PPP loan of $862,632 (compared to this company's $1.68M).
Similar Nearby Businesses Who Received PPP Funding:
Westway Manor Inc
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, 73% lower than Holiday Retirement Home, Inc's reported 225 employees, and received an average PPP loan of $442,944, 74% lower than this company's loan of $1.68M.
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