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PPP Loan Data — Mercy Drive Inc, Kew Gardens, NY

SBA PPP loan data, payroll data, and salaries for Mercy Drive Inc
NY

Mercy Drive Inc

Entity: Partnership

Industry: Services for the Elderly and Persons with Disabilities

Location: Kew Gardens, NY

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Mercy Drive Inc is a partnership located at 120-34 Queens Blvd in Kew Gardens, New York that received a Coronavirus-related PPP loan from the SBA of $4,906,097.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.91M

Jobs Retained:

408

Loan Approved:

2020-04-15

Lender:

TD BANK, NATIONAL ASSOCIATION

Mercy Drive Inc in Kew Gardens, NY received a Paycheck Protection Loan of $4.91M through TD BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Mercy Drive Inc's total 2019 payroll expenses were approximately $23.55M in order to qualify for the PPP loan amount received.

Based on their reported 408 jobs retained, this equals an estimated average yearly compensation of $57,719 per employee1.

Because the loan received by Mercy Drive 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 - Mercy Drive Inc in Kew Gardens, NY

Mercy Drive Inc
120-34 Queens Blvd
Kew Gardens, NY 11415

Business Industry

Services for the Elderly and Persons with Disabilities (NAICS code 624120)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NY-06

Similar Companies near Kew Gardens

In the Kew Gardens area, 5 businesses in the "Services for the Elderly and Persons with Disabilities" industry received a PPP loan. These local businesses reported an average of 94 employees (compared to this company's 408) and received an average PPP loan of $1,249,291 (compared to this company's $4.91M).

Industry PPP Comparison Statistics

Nationwide, 7,046 businesses in the "Services for the Elderly and Persons with Disabilities" industry received a total of $1,535,554,395.00 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 32 employees, 92% lower than Mercy Drive Inc's reported 408 employees, and received an average PPP loan of $217,933, 96% lower than this company's loan of $4.91M.

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/mercy-drive-inc-kew-gardens-ny