PPP Loan Data — New Franklin Rehabilitation & Health Car, Brooklyn, NY
New Franklin Rehabilitation & Health Car is a limited liability company (LLC) located at 1613 Mcdonald Ave in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $3,250,475.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:JPMorgan Chase Bank, National Association
New Franklin Rehabilitation & Health Car in Brooklyn, NY received a Paycheck Protection Loan of $3.25M through JPMorgan Chase Bank, 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 July, 2021.
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, New Franklin Rehabilitation & Health Car's 2019 payroll expenses are estimated to be at least $15.6M.
Based on their reported 234 jobs retained, this equals an estimated average yearly compensation of $66,676 per employee1
Reported PPP Proceed Usage:
On the PPP application, New Franklin Rehabilitation & Health Car reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,750,475
- Utilities: $50,000
- Health Care: $450,000
Business Information - New Franklin Rehabilitation & Health Car in Brooklyn, NY
1613 Mcdonald Ave
Brooklyn, NY 11230
NAICS code 0
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Businesses Using Same Address:
There are 3 other businesses that received a PPP loan registered to the same address as New Franklin Rehabilitation & Health Car.
Tri Care Midwood, LLC
Offices of Podiatrists
Other Accounting Services
Fort Tryon Rehabilitation & Health Care
Similar Companies near Brooklyn
In the Brooklyn area, 6,462 businesses in the "Unknown" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 234) and received an average PPP loan of $62,493 (compared to this company's $3.25M).
Similar Nearby Businesses Who Received PPP Funding:
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Fort Tryon Rehabilitation & Health Care
Industry PPP Comparison Statistics
Nationwide, 132,342 businesses in the "Unknown" industry received a total of $5.86B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 13 employees, 94% lower than New Franklin Rehabilitation & Health Car's reported 234 employees, and received an average PPP loan of $44,250, 99% lower than this company's loan of $3.25M.
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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