PPP Loan Data — Philadelphia Housing Development Corporation, Philadelphia, PA
Philadelphia Housing Development Corporation is a non-profit organization located at 1234 Market St 17th Floor in Philadelphia, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $3,235,985.00 in May, 2020.
$ PPP Loan Information
Lender:REPUBLIC FIRST BANK D/B/A REPUBLIC BANK
Philadelphia Housing Development Corporation received a Paycheck Protection Loan of $3.24M through REPUBLIC FIRST BANK D/B/A REPUBLIC BANK, which was approved in May, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 142 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 155.
Based on standard PPP eligibility rules, Philadelphia Housing Development Corporation's total 2019 payroll expenses were approximately $15.53M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 142 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Philadelphia Housing Development Corporation in Philadelphia, PA
1234 Market St 17th Floor
Philadelphia, PA 19107
Other Community Housing Services (NAICS code 624229)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: PA-03
Similar Companies near Philadelphia
In the Philadelphia area, 5 businesses in the "Other Community Housing Services" industry received a PPP loan. These local businesses reported an average of 34 employees (compared to this company's 142) and received an average PPP loan of $709,887 (compared to this company's $3.24M).
Similar Nearby Businesses Who Received PPP Funding:
Liberty Community Integration Program II
Liberty Community Integration Program
Philadelphia Association Of Community Development Corp
The Sunday Breakfast Association Of Philadelphia, Inc.
Industry PPP Comparison Statistics
Nationwide, 1,771 businesses in the "Other Community Housing Services" industry received a total of $328,310,030.00 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 19 employees, 87% lower than Philadelphia Housing Development Corporation's reported 142 employees, and received an average PPP loan of $185,381, 94% lower than this company's loan of $3.24M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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