PPP Loan Data — New Horizon Hospice Inc, Glendale, CA
New Horizon Hospice Inc is a corporation located at 1012 East Colorado St in Glendale, California that received a Coronavirus-related PPP loan from the SBA of $46,111.00 in June, 2020.
The company has reported itself as a male owned business, and employed at least eighteen people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Cross River Bank
New Horizon Hospice Inc in Glendale, CA received a Paycheck Protection Loan of $46,111 through Cross River Bank, which was approved in June, 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, New Horizon Hospice Inc's 2019 payroll expenses are estimated to be at least $221,333.
Based on their reported 18 jobs retained, this equals an estimated average yearly compensation of $12,296 per employee1
Reported PPP Proceed Usage:
On the PPP application, New Horizon Hospice Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,111
Business Information - New Horizon Hospice Inc in Glendale, CA
1012 East Colorado St
Glendale, CA 91205
Home Health Care Services
NAICS code 621610
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Glendale
In the Glendale area, 184 businesses in the "Home Health Care Services" industry received a PPP loan. These local businesses reported an average of 12 employees (compared to this company's 18) and received an average PPP loan of $80,972 (compared to this company's $46,111).
Similar Nearby Businesses Who Received PPP Funding:
Metropolitan Healthcare Inc
All-Access Home Health Inc
Visiting Angels Home - Media Home Health
Paloma Ventures LLC
K & A Care, Inc
Meraki Home Health Care Inc
Ideal Homecare & Services LLC
Kristoraf Home Health
Industry PPP Comparison Statistics
Nationwide, 91,996 businesses in the "Home Health Care Services" industry received a total of $7.67B 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 15 employees, 17% lower than New Horizon Hospice Inc's reported 18 employees, and received an average PPP loan of $83,373, 81% higher than this company's loan of $46,111.
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