PPP Loan Data — Phoenix Houses Of New England, Providence, RI
Phoenix Houses Of New England
Entity: Non-profit Organization
Location: Providence, RITweet This • Search All PPP Data
Phoenix Houses Of New England is a non-profit organization located at 99 Wayland Ave in Providence, Rhode Island that received a Coronavirus-related PPP loan from the SBA of $2,274,700.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank Rhode Island
Phoenix Houses Of New England in Providence, RI received a Paycheck Protection Loan of $2.27M through Bank Rhode Island, which was approved in April, 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, Phoenix Houses Of New England's 2019 payroll expenses are estimated to be at least $10.92M.
Based on their reported 223 jobs retained, this equals an estimated average yearly compensation of $48,962 per employee1
Reported PPP Proceed Usage:
On the PPP application, Phoenix Houses Of New England reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,274,700
Business Information - Phoenix Houses Of New England in Providence, RI
99 Wayland Ave
Providence, RI 2906
Outpatient Mental Health and Substance Abuse Centers
NAICS code 621420
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Providence
In the Providence area, 10 businesses in the "Outpatient Mental Health and Substance Abuse Centers" industry received a PPP loan. These local businesses reported an average of 46 employees (compared to this company's 223) and received an average PPP loan of $449,748 (compared to this company's $2.27M).
Similar Nearby Businesses Who Received PPP Funding:
Center For Dynamic And Behavioral Therapy, LLC
Neuro Development Center Inc
Phoenix Houses Of New England Inc
Industry PPP Comparison Statistics
Nationwide, 11,274 businesses in the "Outpatient Mental Health and Substance Abuse Centers" industry received a total of $1.83B 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 18 employees, 92% lower than Phoenix Houses Of New England's reported 223 employees, and received an average PPP loan of $162,367, 93% lower than this company's loan of $2.27M.
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