PPP Loan Data — Restorative Home Care, Cheltenham, PA
Restorative Home Care is a corporation located at 7800 Haines Rd in Cheltenham, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $46,250.00 in May, 2020.
The company has reported itself as a Black or african american female owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Restorative Home Care in Cheltenham, PA received a Paycheck Protection Loan of $46,250 through WebBank, 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, Restorative Home Care's 2019 payroll expenses are estimated to be at least $222,000.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $44,400 per employee1
Reported PPP Proceed Usage:
On the PPP application, Restorative Home Care reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,250
Business Information - Restorative Home Care in Cheltenham, PA
7800 Haines Rd
Cheltenham, PA 19012
Home Health Care Services
NAICS code 621610
Business Owner Demographics
Race: Black or African American
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Cheltenham
In the Cheltenham area, 21 businesses in the "Home Health Care Services" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 5) and received an average PPP loan of $38,793 (compared to this company's $46,250).
Similar Nearby Businesses Who Received PPP Funding:
Person Centered Services Inc
Better Home Care LLC
Penn Home Health Care LLC
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, 200% higher than Restorative Home Care's reported 5 employees, and received an average PPP loan of $83,373, 80% higher than this company's loan of $46,250.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!