PPP Loan Data — Benchmark Therapies, Inc, Huntingdon, PA
Benchmark Therapies, Inc
Entity: Subchapter S Corporation
Location: Huntingdon, PATweet This • Search All PPP Data
Benchmark Therapies, Inc is a subchapter s corporation located at Po Box 870 in Huntingdon, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $2,046,070.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 119 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:1st Summit Bank
Benchmark Therapies, Inc in Huntingdon, PA received a Paycheck Protection Loan of $2.05M through 1st Summit Bank, which was approved in April, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, Benchmark Therapies, Inc's 2019 payroll expenses are estimated to be at least $9.82M.
Based on their reported 119 jobs retained, this equals an estimated average yearly compensation of $82,531 per employee1
Reported PPP Proceed Usage:
On the PPP application, Benchmark Therapies, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,046,070
Business Information - Benchmark Therapies, Inc in Huntingdon, PA
Po Box 870
Huntingdon, PA 16652
All Other Miscellaneous Ambulatory Health Care Services
NAICS code 621999
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 18,626 businesses in the "All Other Miscellaneous Ambulatory Health Care Services" industry received a total of $1.65B 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 12 employees, 90% lower than Benchmark Therapies, Inc's reported 119 employees, and received an average PPP loan of $88,620, 96% lower than this company's loan of $2.05M.
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Footnotes & Information
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