PPP Loan Data — Premium Select Home Care Inc, Washington, DC
Premium Select Home Care Inc is a corporation located at 5513 Illinois Ave Nw in Washington, District of Columbia that received a Coronavirus-related PPP loan from the SBA of $2,562,398.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Premium Select Home Care Inc in Washington, DC received a Paycheck Protection Loan of $2.56M through Bank of America, National Association, which was approved in May, 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, Premium Select Home Care Inc's 2019 payroll expenses are estimated to be at least $12.3M.
Based on their reported 485 jobs retained, this equals an estimated average yearly compensation of $25,360 per employee1
Reported PPP Proceed Usage:
On the PPP application, Premium Select Home Care Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,562,398
Business Information - Premium Select Home Care Inc in Washington, DC
5513 Illinois Ave Nw
Washington, DC 20011
Home Health Care Services
NAICS code 621610
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Washington
In the Washington area, 38 businesses in the "Home Health Care Services" industry received a PPP loan. These local businesses reported an average of 86 employees (compared to this company's 485) and received an average PPP loan of $439,223 (compared to this company's $2.56M).
Similar Nearby Businesses Who Received PPP Funding:
AVA Healthcare Services
Ideal Nursing Services Inc
KBC Nursing Agency Hm Health Inc
Berhan Home Health Agency, Inc
Three Angels Home Health LLC
Specialty Home Care,LLC
Hercelle Kenmeugni Domche
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, 97% lower than Premium Select Home Care Inc's reported 485 employees, and received an average PPP loan of $83,373, 97% lower than this company's loan of $2.56M.
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Footnotes & Information
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