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PPP Loan Data — Park House Care Center LLC,
Far Rockaway, NY
Park House Care Center LLC
Entity: Limited Liability Company (LLC)
Industry: Nursing Care Facilities (Skilled Nursing Facilities)
Location: Far Rockaway, NY
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Park House Care Center LLC is a limited liability company (LLC) located at 128 Beach 115th St in Far Rockaway, New York that received a Coronavirus-related PPP loan from the SBA of $1,284,030.00 in May, 2020.
$
PPP Loan Information
Loan #6369947405
Loan Size:
Jobs Retained:
117Loan Approved:
2020-05-14Loan Status:
Ongoing LoanLender:
JPMorgan Chase Bank, National AssociationPark House Care Center LLC in Far Rockaway, NY received a Paycheck Protection Loan of $1.28M through JPMorgan Chase Bank, National Association, which was approved in May, 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, Park House Care Center LLC's 2019 payroll expenses are estimated to be at least $6.16M.
Based on their reported 117 jobs retained, this equals an estimated average yearly compensation of $52,678 per employee1
Reported PPP Proceed Usage:
On the PPP application, Park House Care Center LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,284,030
Business Information - Park House Care Center LLC in Far Rockaway, NY
128 Beach 115th St
Far Rockaway, NY 11691
Business Industry:
Nursing Care Facilities (Skilled Nursing Facilities)
NAICS code 623110
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Far Rockaway
In the Far Rockaway area, 25 businesses in the "Nursing Care Facilities (Skilled Nursing Facilities)" industry received a PPP loan. These local businesses reported an average of 113 employees (compared to this company's 117) and received an average PPP loan of $1,268,519 (compared to this company's $1.28M).
Similar Nearby Businesses Who Received PPP Funding:
Resort Nursing Home
Arverne, NY
Oceanview Nursing & Rehabilitation Center LLC
Far Rockaway, NY
Tyrene Young
Far Rockaway, NY
EMM Healthcare Group, LLC
Far Rockaway, NY
Central Assisted Living, LLC
Far Rockaway, NY
Fairview Nursing Care Center
Forest Hills, NY
Ocean Gardens Nursing Facility Inc
Arverne, NY
West Lawrence Realty LLC
Far Rockaway, NY
Lawrence Nursing Care Center, Inc
Arverne, NY
Industry PPP Comparison Statistics
Nationwide, 15,371 businesses in the "Nursing Care Facilities (Skilled Nursing Facilities)" industry received a total of $6.79B 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 59 employees, 50% lower than Park House Care Center LLC's reported 117 employees, and received an average PPP loan of $441,520, 66% lower than this company's loan of $1.28M.
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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