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PPP Loan Data — Queens Homecare Agency Inc., New York, NY

SBA PPP loan data, payroll data, and salaries for Queens Homecare Agency Inc.
NY

Queens Homecare Agency Inc.

Entity: Corporation

Industry: Home Health Care Services

Location: New York, NY

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Queens Homecare Agency Inc. is a corporation located at 2 East Broadway 801/802 in New York, New York that received a Coronavirus-related PPP loan from the SBA of $4,015,000.00 in July, 2020.

$ PPP Loan Information

Loan Size:

$4.02M

Jobs Retained:

480

Loan Approved:

2020-07-30

Lender:

FLUSHING BANK

Queens Homecare Agency Inc. received a Paycheck Protection Loan of $4.02M through FLUSHING BANK, which was approved in July, 2020.

Based on standard PPP eligibility rules, Queens Homecare Agency Inc.'s total 2019 payroll expenses were approximately $19.27M in order to qualify for the PPP loan amount received.

Based on their reported 480 jobs retained, this equals an estimated average yearly compensation of $40,150 per employee1.

Because the loan received by Queens Homecare Agency Inc. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Queens Homecare Agency Inc. in New York, NY

Queens Homecare Agency Inc.
2 East Broadway 801/802
New York, NY 10038

Business Industry

Home Health Care Services (NAICS code 621610)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NY-10

Similar Companies near New York

In the New York area, 4 businesses in the "Home Health Care Services" industry received a PPP loan. These local businesses reported an average of 130 employees (compared to this company's 480) and received an average PPP loan of $1,160,000 (compared to this company's $4.02M).

Industry PPP Comparison Statistics

Nationwide, 25,078 businesses in the "Home Health Care Services" industry received a total of $5,322,458,293.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 34 employees, 93% lower than Queens Homecare Agency Inc.'s reported 480 employees, and received an average PPP loan of $212,236, 95% lower than this company's loan of $4.02M.

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.

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Footnotes & Information

1. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/queens-homecare-agency-inc-new-york-ny