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PPP Loan Data — Resort Nursing Home, Arverne, NY

SBA PPP loan data, payroll data, and salaries for Resort Nursing Home
NY

Resort Nursing Home

Entity: Sole Proprietorship

Industry: Nursing Care Facilities (Skilled Nursing Facilities)

Location: Arverne, NY

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Resort Nursing Home is a sole proprietorship located at 430 Beach 68th St in Arverne, New York that received a Coronavirus-related PPP loan from the SBA of $2,417,733.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.42M

Jobs Retained:

270

Loan Approved:

2020-04-30

Lender:

BANK OF AMERICA, NATIONAL ASSOCIATION

Resort Nursing Home received a Paycheck Protection Loan of $2.42M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in April, 2020.

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 0.

Based on standard PPP eligibility rules, Resort Nursing Home's total 2019 payroll expenses were approximately $11.61M in order to qualify for the PPP loan amount received.

Based on their reported 270 jobs retained, this equals an estimated average yearly compensation of $42,982 per employee1.

Because the loan received by Resort Nursing Home 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 - Resort Nursing Home in Arverne, NY

Resort Nursing Home
430 Beach 68th St
Arverne, NY 11692

Business Industry

Nursing Care Facilities (Skilled Nursing Facilities) (NAICS code 623110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NY-05

Similar Companies near Arverne

In the Arverne area, 18 businesses in the "Nursing Care Facilities (Skilled Nursing Facilities)" industry received a PPP loan. These local businesses reported an average of 80 employees (compared to this company's 270) and received an average PPP loan of $1,467,395 (compared to this company's $2.42M).

Industry PPP Comparison Statistics

Nationwide, 9,872 businesses in the "Nursing Care Facilities (Skilled Nursing Facilities)" industry received a total of $5,508,018,433.00 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 66 employees, 76% lower than Resort Nursing Home's reported 270 employees, and received an average PPP loan of $557,944, 77% lower than this company's loan of $2.42M.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

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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/resort-nursing-home-arverne-ny