PPP Loan Data — Hopeworks Of Howard County, Inc, Columbia, MD
Hopeworks Of Howard County, Inc is a corporation located at 9770 Patuxent Woods Drive in Columbia, Maryland that received a Coronavirus-related PPP loan from the SBA of $46,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Fulton Bank, National Association
Hopeworks Of Howard County, Inc in Columbia, MD received a Paycheck Protection Loan of $46,000 through Fulton 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
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, Hopeworks Of Howard County, Inc's 2019 payroll expenses are estimated to be at least $220,800.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $55,200 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hopeworks Of Howard County, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,000
Business Information - Hopeworks Of Howard County, Inc in Columbia, MD
9770 Patuxent Woods Drive
Columbia, MD 21046
All Other Personal Services
NAICS code 812990
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Columbia
In the Columbia area, 55 businesses in the "All Other Personal Services" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 4) and received an average PPP loan of $74,024 (compared to this company's $46,000).
Similar Nearby Businesses Who Received PPP Funding:
Toshiana Baker Beauty LLC
Alt-Ternative Autoimmune LLC
District Remix. LLC
Children's Therapy Center LLC
K Love Co
Industry PPP Comparison Statistics
Nationwide, 237,729 businesses in the "All Other Personal Services" industry received a total of $5.63B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 3 employees, 25% lower than Hopeworks Of Howard County, Inc's reported 4 employees, and received an average PPP loan of $23,676, 49% lower than this company's loan of $46,000.
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