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PPP Loan Data — Residential Home Funding Corp., White Plains, NY

SBA PPP loan data, payroll data, and salaries for Residential Home Funding Corp.
NY

Residential Home Funding Corp.

Entity: Subchapter S Corporation

Industry: Savings Institutions

Location: White Plains, NY

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Residential Home Funding Corp. is a subchapter s corporation located at 707 Westchester Ave in White Plains, New York that received a Coronavirus-related PPP loan from the SBA of $3,883,509.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.88M

Jobs Retained:

225

Loan Approved:

2020-04-16

Lender:

THE BANK OF PRINCETON

Residential Home Funding Corp. received a Paycheck Protection Loan of $3.88M through THE BANK OF PRINCETON, which was approved in April, 2020.

Based on standard PPP eligibility rules, Residential Home Funding Corp.'s total 2019 payroll expenses were approximately $18.64M in order to qualify for the PPP loan amount received.

Based on their reported 225 jobs retained, this equals an estimated average yearly compensation of $82,848 per employee1.

Because the loan received by Residential Home Funding Corp. 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 - Residential Home Funding Corp. in White Plains, NY

Residential Home Funding Corp.
707 Westchester Ave
White Plains, NY 10604

Business Industry

Savings Institutions (NAICS code 522120)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NY-17

Industry PPP Comparison Statistics

Nationwide, 61 businesses in the "Savings Institutions" industry received a total of $6,319,392.00 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 9 employees, 96% lower than Residential Home Funding Corp.'s reported 225 employees, and received an average PPP loan of $103,597, 97% lower than this company's loan of $3.88M.

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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Source: www.federalpay.org/paycheck-protection-program/residential-home-funding-corp-white-plains-ny