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PPP Loan Data — Nurturing Heart Services,
Newport News, VA
Nurturing Heart Services
Entity: Sole Proprietorship
Industry: Home Health Care Services
Location: Newport News, VA
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Nurturing Heart Services is a sole proprietorship located at 12300 Warwick Blvd Ste C in Newport News, Virginia that received a Coronavirus-related PPP loan from the SBA of $91,400.00 in June, 2020.
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PPP Loan Information
Loan #2912737907
Loan Size:
Jobs Retained:
15Loan Approved:
2020-06-12Loan Status:
Ongoing LoanLender:
Navy FCUNurturing Heart Services in Newport News, VA received a Paycheck Protection Loan of $91,400 through Navy FCU, which was approved in June, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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 MoreUnderstanding 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 MoreBased 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, Nurturing Heart Services' 2019 payroll expenses are estimated to be at least $438,720.
Based on their reported 15 jobs retained, this equals an estimated average yearly compensation of $29,248 per employee1
Reported PPP Proceed Usage:
On the PPP application, Nurturing Heart Services reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $91,400
Business Information - Nurturing Heart Services in Newport News, VA
12300 Warwick Blvd Ste C
Newport News, VA 23606
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: Urban
Similar Companies near Newport News
In the Newport News area, 25 businesses in the "Home Health Care Services" industry received a PPP loan. These local businesses reported an average of 32 employees (compared to this company's 15) and received an average PPP loan of $145,389 (compared to this company's $91,400).
Similar Nearby Businesses Who Received PPP Funding:
Andresen Company LLC
Newport News, VA
Another Chance
Newport News, VA
Shineale Hill-Rance
Newport News, VA
Golden Heart Care LLC
Newport News, VA
Hope In Home Care LLC
Newport News, VA
Conglamorate Home Health Care LLC
Newport News, VA
Circle Of Life Home Care LLC
Newport News, VA
Elite Elder Care LLC
Newport News, VA
All Ways There Home Care
Newport News, VA
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, 7% higher than Nurturing Heart Services' reported 15 employees, and received an average PPP loan of $86,486, 5% lower than this company's loan of $91,400.
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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