PPP Loan Data — Towne Home Care LLC, Howell, NJ
Towne Home Care LLC is a limited liability company (LLC) located at 5140 Us Highway 9 in Howell, New Jersey that received a Coronavirus-related PPP loan from the SBA of $1,722,865.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Towne Home Care LLC in Howell, NJ received a Paycheck Protection Loan of $1.72M through Ponce Bank, which was approved in April, 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, Towne Home Care LLC's 2019 payroll expenses are estimated to be at least $8.27M.
Based on their reported 352 jobs retained, this equals an estimated average yearly compensation of $23,494 per employee1
Reported PPP Proceed Usage:
On the PPP application, Towne Home Care LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,722,865
Business Information - Towne Home Care LLC in Howell, NJ
5140 Us Highway 9
Howell, NJ 7731
Home Health Care Services
NAICS code 621610
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Howell
In the Howell area, 7 businesses in the "Home Health Care Services" industry received a PPP loan. These local businesses reported an average of 149 employees (compared to this company's 352) and received an average PPP loan of $849,003 (compared to this company's $1.72M).
Similar Nearby Businesses Who Received PPP Funding:
Complete Care At Nazareth LLC
GMA Traveling Healthcare LLC
Complete Care At Manitowoc LLC
Complete Care At Villa Pines LLC
Towne Staffing 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, 96% lower than Towne Home Care LLC's reported 352 employees, and received an average PPP loan of $83,373, 95% lower than this company's loan of $1.72M.
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Footnotes & Information
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