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PPP Loan Data — Bethlehem Eye Associates PC, Bethlehem, PA

ALERT: There are 2 PPP loans for a total of $840,106 in our database for businesses with the name "Bethlehem Eye Associates PC" in Bethlehem, PA. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Bethlehem Eye Associates PC
PA

Bethlehem Eye Associates PC

Entity: Subchapter S Corporation

Industry: Offices of Physicians (except Mental Health Specialists)

Location: Bethlehem, PA

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Bethlehem Eye Associates PC is a subchapter s corporation located at 800 Eaton Ave Ste 101 in Bethlehem, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $369,506.00 in March, 2021.

The company has reported itself as a male owned business, and employed at least 34 people during the applicable loan loan period.

$ PPP Loan Information
Loan #5846218502

Loan Size:

$369,506

Jobs Retained:

34

Loan Approved:

2021-03-02

Loan Status:

Active Un-Disbursed

Lender:

Peoples Security Bank and Trust Company
PPP Funds Undisbursed

Bethlehem Eye Associates PC in Bethlehem, PA received a Paycheck Protection Loan of $369,506 through Peoples Security Bank and Trust Company, which was approved in March, 2021.

While this loan has been approved by the Small Business Administration, the lender has not reported to the SBA that the loan funds were disbursed to the borrower. According to SBA records, a total of $369,506 in approved PPP funding has not been disbursed. The loan's status was last updated by the SBA in March, 2021.

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, Bethlehem Eye Associates PC's 2019 payroll expenses are estimated to be at least $1.77M.

Based on their reported 34 jobs retained, this equals an estimated average yearly compensation of $52,166 per employee1

Reported PPP Proceed Usage:

On the PPP application, Bethlehem Eye Associates PC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $369,503
  • Utilities: $1

Business Information - Bethlehem Eye Associates PC in Bethlehem, PA

Bethlehem Eye Associates PC
800 Eaton Ave Ste 101
Bethlehem, PA 18018

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

Business Owner Demographics

Race: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: Y

Rural / Urban: Urban

Lehigh County, PA — SBA Office 0303 — Congressional District: PA-07

Similar Companies near Bethlehem

In the Bethlehem area, 46 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 14 employees (compared to this company's 34) and received an average PPP loan of $241,833 (compared to this company's $369,506).

Industry PPP Comparison Statistics

Nationwide, 176,926 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a total of $21.07B 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, 68% lower than Bethlehem Eye Associates PC's reported 34 employees, and received an average PPP loan of $119,087, 68% lower than this company's loan of $369,506.

SBA PPP loan data, payroll data, and salaries for Bethlehem Eye Associates PC
PA

Bethlehem Eye Associates PC

Entity: Subchapter S Corporation

Industry: Offices of Optometrists

Location: Bethlehem, PA

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Bethlehem Eye Associates PC is a subchapter s corporation located at 800 Eaton Ave in Bethlehem, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $470,600.00 in May, 2020.

The company has reported itself as a male owned business, and employed at least 35 people during the applicable loan loan period.

$ PPP Loan Information
Loan #8320207306

Loan Size:

$470,600

Jobs Retained:

35

Loan Approved:

2020-05-01

Loan Status:

Paid in Full or Forgiven

Lender:

Peoples Security Bank and Trust Company

Bethlehem Eye Associates PC in Bethlehem, PA received a Paycheck Protection Loan of $470,600 through Peoples Security Bank and Trust Company, which was approved in May, 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 April, 2021.

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, Bethlehem Eye Associates PC's 2019 payroll expenses are estimated to be at least $2.26M.

Based on their reported 35 jobs retained, this equals an estimated average yearly compensation of $64,539 per employee1

Reported PPP Proceed Usage:

On the PPP application, Bethlehem Eye Associates PC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $470,600

Business Information - Bethlehem Eye Associates PC in Bethlehem, PA

Bethlehem Eye Associates PC
800 Eaton Ave
Bethlehem, PA 18018

Business Industry:
Offices of Optometrists
NAICS code 621320

Business Owner Demographics

Race: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: Y

Rural / Urban: Urban

Northampton County, PA — SBA Office 0303 — Congressional District: PA-07

Similar Companies near Bethlehem

In the Bethlehem area, 5 businesses in the "Offices of Optometrists" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 35) and received an average PPP loan of $131,458 (compared to this company's $470,600).

Industry PPP Comparison Statistics

Nationwide, 27,285 businesses in the "Offices of Optometrists" industry received a total of $1.98B 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 8 employees, 77% lower than Bethlehem Eye Associates PC's reported 35 employees, and received an average PPP loan of $72,657, 85% lower than this company's loan of $470,600.

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/bethlehem-eye-associates-pc-bethlehem-pa