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PPP Loan Data — Waveny Lifecare Network Inc, New Canaan, CT

SBA PPP loan data, payroll data, and salaries for Waveny Lifecare Network Inc
CT Nonprofit Organization

Waveny Lifecare Network Inc

Entity: Non-profit Organization

Industry: Nursing Care Facilities (Skilled Nursing Facilities)

Location: New Canaan, CT

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Waveny Lifecare Network Inc is a non-profit organization located at 3 Farm Rd in New Canaan, Connecticut that received a Coronavirus-related PPP loan from the SBA of $2,578,200.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.58M

Jobs Retained:

250

Loan Approved:

2020-04-06

Lender:

PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION

Waveny Lifecare Network Inc received a Paycheck Protection Loan of $2.58M through PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Waveny Lifecare Network Inc's total 2019 payroll expenses were approximately $12.38M in order to qualify for the PPP loan amount received.

Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $49,501 per employee1.

Because the loan received by Waveny Lifecare Network 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 - Waveny Lifecare Network Inc in New Canaan, CT

Waveny Lifecare Network Inc
3 Farm Rd
New Canaan, CT 6840

Business Industry

Nursing Care Facilities (Skilled Nursing Facilities) (NAICS code 623110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: CT-04

Industry PPP Comparison Statistics

Nationwide, 9,872 businesses in the "Nursing Care Facilities (Skilled Nursing Facilities)" industry received a total of $5,508,018,433.00 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 66 employees, 74% lower than Waveny Lifecare Network Inc's reported 250 employees, and received an average PPP loan of $557,944, 78% lower than this company's loan of $2.58M.

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.

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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/waveny-lifecare-network-inc-new-canaan-ct