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PPP Loan Data — Benjamin Seeman, DO, LLC, Richmond, VA

SBA PPP loan data, payroll data, and salaries for Benjamin Seeman, DO, LLC
VA

Benjamin Seeman, DO, LLC

Entity: Limited Liability Company (LLC)

Industry: Offices of Physicians (except Mental Health Specialists)

Location: Richmond, VA

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Benjamin Seeman, DO, LLC is a limited liability company (LLC) located at 6900 Forest Ave, Suite 310 in Richmond, Virginia that received a Coronavirus-related PPP loan from the SBA of $206,700.00 in April, 2020.

$ PPP Loan Information
Loan #7937297001

Loan Size:

$206,700

Jobs Retained:

11

Loan Approved:

2020-04-08

Loan Status:

Paid in Full or Forgiven

Lender:

Atlantic Union Bank

Benjamin Seeman, DO, LLC in Richmond, VA received a Paycheck Protection Loan of $206,700 through Atlantic Union Bank, which was approved in April, 2020.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in December, 2020.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Benjamin Seeman, DO, LLC's 2019 payroll expenses are estimated to be at least $992,160.

Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $90,196 per employee1

Reported PPP Proceed Usage:

On the PPP application, Benjamin Seeman, DO, LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $206,700

Business Information - Benjamin Seeman, DO, LLC in Richmond, VA

Benjamin Seeman, DO, LLC
6900 Forest Ave, Suite 310
Richmond, VA 23230

Business Industry:
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: Y

Rural / Urban: Urban

Henrico County, VA — SBA Office 0304 — Congressional District: VA-07

Similar Companies near Richmond

In the Richmond area, 17 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 22 employees (compared to this company's 11) and received an average PPP loan of $440,893 (compared to this company's $206,700).

Industry PPP Comparison Statistics

Nationwide, 166,222 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a total of $20.52B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 3% of the total PPP funding allocated.

PPP recipients in this industry report an average of 11 employees, the same amount reported by Benjamin Seeman, DO, LLC and received an average PPP loan of $123,474, 40% lower than this company's loan of $206,700.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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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Source: www.federalpay.org/paycheck-protection-program/benjamin-seeman-do-llc-richmond-va