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PPP Loan Data — Best Medical International, Inc., Springfield, VA

SBA PPP loan data, payroll data, and salaries for Best Medical International, Inc.
VA

Best Medical International, Inc.

Entity: Sole Proprietorship

Industry: All Other Basic Organic Chemical Manufacturing

Location: Springfield, VA

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Best Medical International, Inc. is a sole proprietorship located at 7643 Fullerton Road in Springfield, Virginia that received a Coronavirus-related PPP loan from the SBA of $2,826,837.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.83M

Jobs Retained:

212

Loan Approved:

2020-04-15

Lender:

HARVEST SMALL BUSINESS FINANCE, LLC

Best Medical International, Inc. in Springfield, VA received a Paycheck Protection Loan of $2.83M through HARVEST SMALL BUSINESS FINANCE, LLC, which was approved in April, 2020.

Based on standard PPP eligibility rules, Best Medical International, Inc.'s total 2019 payroll expenses were approximately $13.57M in order to qualify for the PPP loan amount received.

Based on their reported 212 jobs retained, this equals an estimated average yearly compensation of $64,004 per employee1.

Because the loan received by Best Medical International, 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 - Best Medical International, Inc. in Springfield, VA

Best Medical International, Inc.
7643 Fullerton Road
Springfield, VA 22153

Business Industry

All Other Basic Organic Chemical Manufacturing (NAICS code 325199)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: VA-08

Industry PPP Comparison Statistics

Nationwide, 494 businesses in the "All Other Basic Organic Chemical Manufacturing" industry received a total of $174,933,064.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 19 employees, 91% lower than Best Medical International, Inc.'s reported 212 employees, and received an average PPP loan of $354,116, 87% lower than this company's loan of $2.83M.

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, 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/best-medical-international-inc-springfield-va