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PPP Loan Data — Ideal Home Health, Inc., Brooklyn, NY

SBA PPP loan data, payroll data, and salaries for Ideal Home Health, Inc.
NY

Ideal Home Health, Inc.

Entity: Corporation

Industry: Other Residential Care Facilities

Location: Brooklyn, NY

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Ideal Home Health, Inc. is a corporation located at 2748 Ocean Avenue, 5th Floor in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $4,887,675.00 in April, 2020.

The company has reported itself as a White owned business, and employed at least 500 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$4.89M

Jobs Retained:

500

Loan Approved:

2020-04-27

Lender:

HARVEST SMALL BUSINESS FINANCE, LLC

Ideal Home Health, Inc. in Brooklyn, NY received a Paycheck Protection Loan of $4.89M through HARVEST SMALL BUSINESS FINANCE, LLC, which was approved in April, 2020.

Based on standard PPP eligibility rules, Ideal Home Health, Inc.'s total 2019 payroll expenses were approximately $23.46M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $46,922 per employee1.

Because the loan received by Ideal Home Health, Inc. 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 - Ideal Home Health, Inc. in Brooklyn, NY

Ideal Home Health, Inc.
2748 Ocean Avenue, 5th Floor
Brooklyn, NY 11229

Business Industry

Other Residential Care Facilities (NAICS code 623990)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: Unreported

Veteran Status: Unreported

Congressional District: NY-09

Industry PPP Comparison Statistics

Nationwide, 2,694 businesses in the "Other Residential Care Facilities" industry received a total of $666,350,372.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 29 employees, 94% lower than Ideal Home Health, Inc.'s reported 500 employees, and received an average PPP loan of $247,346, 95% lower than this company's loan of $4.89M.

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, and is published unmodified, as provided by the SBA.

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Footnotes & Information

1. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/ideal-home-health-inc-brooklyn-ny