PPP Loan Data — Visiting Nurse And Health Services, Inc, Elizabeth, NJ
Visiting Nurse And Health Services, Inc is a corporation located at 354 Union Avenue in Elizabeth, New Jersey that received a Coronavirus-related PPP loan from the SBA of $1,863,940.00 in July, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Fulton Bank, National Association
Visiting Nurse And Health Services, Inc in Elizabeth, NJ received a Paycheck Protection Loan of $1.86M through Fulton Bank, National Association, which was approved in July, 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, Visiting Nurse And Health Services, Inc's 2019 payroll expenses are estimated to be at least $8.95M.
Based on their reported 125 jobs retained, this equals an estimated average yearly compensation of $71,575 per employee1
Reported PPP Proceed Usage:
On the PPP application, Visiting Nurse And Health Services, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,397,955
- Utilities: $465,985
Business Information - Visiting Nurse And Health Services, Inc in Elizabeth, NJ
354 Union Avenue
Elizabeth, NJ 7208
All Other Personal Services
NAICS code 812990
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Elizabeth
In the Elizabeth area, 18 businesses in the "All Other Personal Services" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 125) and received an average PPP loan of $118,844 (compared to this company's $1.86M).
Similar Nearby Businesses Who Received PPP Funding:
Emes Multi Services
DDB Transport LLC
Omega Maintenance Corporation
Industry PPP Comparison Statistics
Nationwide, 237,729 businesses in the "All Other Personal Services" industry received a total of $5.63B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 3 employees, 98% lower than Visiting Nurse And Health Services, Inc's reported 125 employees, and received an average PPP loan of $23,676, 99% lower than this company's loan of $1.86M.
FederalPay's PPP Information Policy
Footnotes & Information
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