PPP Loan Data — California Medical Association, Sacramento, CA
California Medical Association
Location: Sacramento, CATweet This • Search All PPP Data
California Medical Association is a corporation located at 1201 K Street Suite 800 in Sacramento, California that received a Coronavirus-related PPP loan from the SBA of $2,294,200.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First-Citizens Bank & Trust Company
California Medical Association in Sacramento, CA received a Paycheck Protection Loan of $2.29M through First-Citizens Bank & Trust Company, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 110. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, California Medical Association's 2019 payroll expenses are estimated to be at least $11.01M (not accounting for salary amounts > $100k).
Because the 102 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, California Medical Association reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,294,200
Business Information - California Medical Association in Sacramento, CA
1201 K Street Suite 800
Sacramento, CA 95814
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Sacramento
In the Sacramento area, 20 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 51 employees (compared to this company's 102) and received an average PPP loan of $739,449 (compared to this company's $2.29M).
Similar Nearby Businesses Who Received PPP Funding:
Capital Nephrology Medical Group
Sacramento Eye Consultants, A Medical Corporation
Andrew J. Tak MD
Ardavan M Aslie MD Inc
Sent Management Services, LLC
Shailesh M Asaikar, MD., Inc
Rohit Kashyap MD Inc
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, 89% lower than California Medical Association's reported 102 employees, and received an average PPP loan of $119,087, 95% lower than this company's loan of $2.29M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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