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PPP Loan Data — Spring Of Life Home Care, Philadelphia, PA

SBA PPP loan data, payroll data, and salaries for Spring Of Life Home Care
PA

Spring Of Life Home Care

Entity: Sole Proprietorship

Industry: Home Health Care Services

Location: Philadelphia, PA

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Spring Of Life Home Care is a sole proprietorship located in Philadelphia, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $799,913.00 in May, 2020.

$ PPP Loan Information

Loan Size:

$799,913

Jobs Retained:

0 Unreported

Loan Approved:

2020-05-02

Lender:

WELLS FARGO BANK, NATIONAL ASSOCIATION

Spring Of Life Home Care received a Paycheck Protection Loan of $799,913 through WELLS FARGO BANK, NATIONAL ASSOCIATION, which was approved in May, 2020.

Based on standard PPP eligibility rules, Spring Of Life Home Care's total 2019 payroll expenses were approximately $3.84M in order to qualify for the PPP loan amount received.

Unlike most businesses, Spring Of Life Home Care's PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.

Business Information - Spring Of Life Home Care in Philadelphia, PA

Spring Of Life Home Care
[FULL ADDRESS REDACTED]
Philadelphia, PA

Business Industry

Home Health Care Services (NAICS code 621610)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: PA-03

Similar Companies near Philadelphia

In the Philadelphia area, 7 businesses in the "Home Health Care Services" industry received a PPP loan. These local businesses reported an average of 110 employees (compared to this company's 0) and received an average PPP loan of $1,136,638 (compared to this company's $799,913).

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, and received an average PPP loan of $212,236, 73% lower than this company's loan of $799,913.

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/spring-of-life-home-care-philadelphia-pa