PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Welcome Care Inc, Brooklyn, NY

SBA PPP loan data, payroll data, and salaries for Welcome Care Inc
NY

Welcome Care Inc

Entity: Corporation

Industry: Home Health Care Services

Location: Brooklyn, NY

Search All PPP Data

Welcome Care Inc is a corporation located at 1090 Coney Island Avenue 3rd Floor in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $2,568,700.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.57M

Jobs Retained:

0 Unreported

Loan Approved:

2020-04-29

Lender:

STERLING NATIONAL BANK

Welcome Care Inc received a Paycheck Protection Loan of $2.57M through STERLING NATIONAL BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Welcome Care Inc's total 2019 payroll expenses were approximately $12.33M in order to qualify for the PPP loan amount received.

Unlike most businesses, Welcome Care Inc'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.

Because the loan received by Welcome 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 - Welcome Care Inc in Brooklyn, NY

Welcome Care Inc
1090 Coney Island Avenue 3rd Floor
Brooklyn, NY 11230

Business Industry

Home Health Care Services (NAICS code 621610)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

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 0) and received an average PPP loan of $1,592,374 (compared to this company's $2.57M).

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, 92% lower than this company's loan of $2.57M.

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.

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.


Have FederalPay.org's open data tools been valuable? Consider donating!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/welcome-care-inc-brooklyn-ny