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PPP Loan Data — Summit Home Health Care, Inc., Brooklyn, NY

SBA PPP loan data, payroll data, and salaries for Summit Home Health Care, Inc.
NY

Summit Home Health Care, Inc.

Entity: Subchapter S Corporation

Industry: Home Health Care Services

Location: Brooklyn, NY

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Summit Home Health Care, Inc. is a subchapter s corporation located at 1797 Coney Island Ave in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $4,906,120.00 in April, 2020.

The company has reported itself as a female owned business, and employed at least 500 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$4.91M

Jobs Retained:

500

Loan Approved:

2020-04-30

Lender:

TRANSPORTATION ALLIANCE BANK, INC. D/B/A TAB BANK, INC.

Summit Home Health Care, Inc. in Brooklyn, NY received a Paycheck Protection Loan of $4.91M through TRANSPORTATION ALLIANCE BANK, INC. D/B/A TAB BANK, INC., which was approved in April, 2020.

Based on standard PPP eligibility rules, Summit Home Health Care, Inc.'s total 2019 payroll expenses were approximately $23.55M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $47,099 per employee1.

Because the loan received by Summit Home Health Care, 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 - Summit Home Health Care, Inc. in Brooklyn, NY

Summit Home Health Care, Inc.
1797 Coney Island Ave
Brooklyn, NY 11230

Business Industry

Home Health Care Services (NAICS code 621610)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: FEMALE OWNED

Veteran Status: NON-VETERAN

Congressional District: NY-09

Similar Companies near Brooklyn

In the Brooklyn area, 13 businesses in the "Home Health Care Services" industry received a PPP loan. These local businesses reported an average of 205 employees (compared to this company's 500) and received an average PPP loan of $1,592,374 (compared to this company's $4.91M).

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 Summit Home Health Care, Inc.'s reported 500 employees, and received an average PPP loan of $212,236, 96% lower than this company's loan of $4.91M.

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, and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

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/summit-home-health-care-inc-brooklyn-ny