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

PPP Loan Data — Meadowbrook Home Health Care Inc, Saginaw, MI

ALERT: There are 2 PPP loans for a total of $48,668 in our database for businesses with the name "Meadowbrook Home Health Care Inc" in Saginaw, MI. 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 Meadowbrook Home Health Care Inc
MI

Meadowbrook Home Health Care Inc

Entity: Corporation

Industry: Home Health Care Services

Location: Saginaw, MI

Search All PPP Data

Meadowbrook Home Health Care Inc is a corporation located at 3160 Christy Way S Ste 1 in Saginaw, Michigan that received a Coronavirus-related PPP loan from the SBA of $24,335.00 in February, 2021.

$ PPP Loan Information
Loan #1649758503

Loan Size:

$24,335

Jobs Retained:

7

Loan Approved:

2021-02-19

Loan Status:

Paid in Full or Forgiven

Lender:

Bank of America, National Association

Meadowbrook Home Health Care Inc in Saginaw, MI received a Paycheck Protection Loan of $24,335 through Bank of America, National Association, which was approved in February, 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 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, Meadowbrook Home Health Care Inc's 2019 payroll expenses are estimated to be at least $116,808.

Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $16,687 per employee1

Reported PPP Proceed Usage:

On the PPP application, Meadowbrook Home Health Care Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $24,332
  • Utilities: $1

Business Information - Meadowbrook Home Health Care Inc in Saginaw, MI

Meadowbrook Home Health Care Inc
3160 Christy Way S Ste 1
Saginaw, MI 48603

Business Industry:
Home Health Care Services
NAICS code 621610

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Rural

Saginaw County, MI — SBA Office 0515 — Congressional District: MI-05

Similar Companies near Saginaw

In the Saginaw area, 43 businesses in the "Home Health Care Services" industry received a PPP loan. These local businesses reported an average of 15 employees (compared to this company's 7) and received an average PPP loan of $109,407 (compared to this company's $24,335).

Industry PPP Comparison Statistics

Nationwide, 87,627 businesses in the "Home Health Care Services" industry received a total of $7.58B 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 16 employees, 129% higher than Meadowbrook Home Health Care Inc's reported 7 employees, and received an average PPP loan of $86,486, 255% higher than this company's loan of $24,335.

SBA PPP loan data, payroll data, and salaries for Meadowbrook Home Health Care Inc
MI

Meadowbrook Home Health Care Inc

Entity: Corporation

Industry: All Other Miscellaneous Ambulatory Health Care Services

Location: Saginaw, MI

Search All PPP Data

Meadowbrook Home Health Care Inc is a corporation located at 3160 Christy Way S Ste 1 in Saginaw, Michigan that received a Coronavirus-related PPP loan from the SBA of $24,333.00 in May, 2020.

The company has reported itself as an Asian male owned business, and employed at least twelve people during the applicable loan loan period.

$ PPP Loan Information
Loan #7107977702

Loan Size:

$24,333

Jobs Retained:

12

Loan Approved:

2020-05-01

Loan Status:

Paid in Full or Forgiven

Lender:

Bank of America, National Association

Meadowbrook Home Health Care Inc in Saginaw, MI received a Paycheck Protection Loan of $24,333 through Bank of America, National Association, which was approved in May, 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 April, 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 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, Meadowbrook Home Health Care Inc's 2019 payroll expenses are estimated to be at least $116,798.

Based on their reported 12 jobs retained, this equals an estimated average yearly compensation of $9,733 per employee1

Reported PPP Proceed Usage:

On the PPP application, Meadowbrook Home Health Care Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $24,333

Business Information - Meadowbrook Home Health Care Inc in Saginaw, MI

Meadowbrook Home Health Care Inc
3160 Christy Way S Ste 1
Saginaw, MI 48603

Business Industry:
All Other Miscellaneous Ambulatory Health Care Services
NAICS code 621999

Business Owner Demographics

Race: Asian

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: New Business or 2 years or less

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Saginaw County, MI — SBA Office 0515 — Congressional District: MI-05

Similar Companies near Saginaw

In the Saginaw area, 3 businesses in the "All Other Miscellaneous Ambulatory Health Care Services" industry received a PPP loan. These local businesses reported an average of 12 employees (compared to this company's 12) and received an average PPP loan of $94,992 (compared to this company's $24,333).

Industry PPP Comparison Statistics

Nationwide, 18,445 businesses in the "All Other Miscellaneous Ambulatory Health Care Services" industry received a total of $1.65B 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, the same amount reported by Meadowbrook Home Health Care Inc and received an average PPP loan of $89,298, 267% higher than this company's loan of $24,333.

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/meadowbrook-home-health-care-inc-saginaw-mi