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PPP Loan Data — Homco Renaissance Inc,
Hanover, MD
Homco Renaissance Inc
Entity: Corporation
Industry: Engineering Services
Location: Hanover, MD
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Homco Renaissance Inc is a corporation located at 7510 Langport Ct in Hanover, Maryland that received a Coronavirus-related PPP loan from the SBA of $15,050.00 in January, 2021.
The company has reported itself as a male veteran owned business, and employed at least two people during the applicable loan loan period.
$
PPP Loan Information
Loan #5212968306
Loan Size:
Jobs Retained:
2Loan Approved:
2021-01-25Loan Status:
Paid in Full or ForgivenLender:
Bank of America, National AssociationHomco Renaissance Inc in Hanover, MD received a Paycheck Protection Loan of $15,050 through Bank of America, National Association, which was approved in January, 2021.
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 October, 2021.
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 MoreUnderstanding 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 MoreBased 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, Homco Renaissance Inc's 2019 payroll expenses are estimated to be at least $72,240.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $36,120 per employee1
Reported PPP Proceed Usage:
On the PPP application, Homco Renaissance Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $15,047
- Utilities: $1
Business Information - Homco Renaissance Inc in Hanover, MD
7510 Langport Ct
Hanover, MD 21076
Business Industry:
Engineering Services
NAICS code 541330
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Hanover
In the Hanover area, 22 businesses in the "Engineering Services" industry received a PPP loan. These local businesses reported an average of 32 employees (compared to this company's 2) and received an average PPP loan of $610,517 (compared to this company's $15,050).
Similar Nearby Businesses Who Received PPP Funding:
Amatrix Consulting Company
Elkridge, MD
Integrated Waste Analysts, Inc
Hanover, MD
Bridges Consulting
Hanover, MD
Katarina Crenshaw
Elkridge, MD
Design Depictions Structural Engineering
Elkridge, MD
Bayland Consultants & Designers, Inc
Hanover, MD
Patuxent Engineering Group LLC
Elkridge, MD
Cyberlinx Solutions LLC
Hanover, MD
Aerosol Monitoring & Analysis Inc
Hanover, MD
Industry PPP Comparison Statistics
Nationwide, 46,579 businesses in the "Engineering Services" industry received a total of $9.17B 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 13 employees, 550% higher than Homco Renaissance Inc's reported 2 employees, and received an average PPP loan of $196,935, 1209% higher than this company's loan of $15,050.
Homco Renaissance, Inc
Entity: Corporation
Industry: Other Management Consulting Services
Location: Hanover, MD
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Homco Renaissance, Inc is a corporation located in Hanover, Maryland that received a Coronavirus-related PPP loan from the SBA of $5,049.00 in June, 2020.
The company has reported itself as a male veteran owned business, and employed at least one person during the applicable loan loan period.
$
PPP Loan Information
Loan #9615997910
Loan Size:
Jobs Retained:
1Loan Approved:
2020-06-20Loan Status:
Paid in Full or ForgivenLender:
Bank of America, National AssociationHomco Renaissance, Inc in Hanover, MD received a Paycheck Protection Loan of $5,049 through Bank of America, National Association, which was approved in June, 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 March, 2021.
Reported PPP Proceed Usage:
On the PPP application, Homco Renaissance, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $5,049
Business Information - Homco Renaissance, Inc in Hanover, MD
Hanover, MD
* Full address is redacted to protect the privacy of individuals.
Business Industry:
Other Management Consulting Services
NAICS code 541618
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Hanover
In the Hanover area, 28 businesses in the "Other Management Consulting Services" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 1) and received an average PPP loan of $42,785 (compared to this company's $5,049).
Similar Nearby Businesses Who Received PPP Funding:
Monee Hill
Hanover, MD
Tanis Hospitality Management, LLC
Hanover, MD
Gbenu Harrison
Elkridge, MD
Eagle Age Consulting, LLC
Hanover, MD
Howard Tech Advisors, LLC
Elkridge, MD
Hope A Got
Elkridge, MD
Fanyal Hoskin
Elkridge, MD
Three Pillars Consulting LLC
Hanover, MD
Hume Diep Consulting LLC
Elkridge, MD
Industry PPP Comparison Statistics
Nationwide, 82,222 businesses in the "Other Management Consulting Services" industry received a total of $3.7B 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 4 employees, 300% higher than Homco Renaissance, Inc's reported 1 employees, and received an average PPP loan of $44,991, 791% higher than this company's loan of $5,049.
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.
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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