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PPP Loan Data — Canfield Scientific Inc,
Parsippany, NJ
Canfield Scientific Inc
Entity: Subchapter S Corporation
Industry: Diagnostic Imaging Centers
Location: Parsippany, NJ
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Canfield Scientific Inc is a subchapter s corporation located at 4 Woodhollow Rd in Parsippany, New Jersey that received a Coronavirus-related PPP loan from the SBA of $4,121,035.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
227Loan Approved:
2020-04-08Lender:
COLUMBIA BANKCanfield Scientific Inc in Parsippany, NJ received a Paycheck Protection Loan of $4.12M through COLUMBIA BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Canfield Scientific Inc's total 2019 payroll expenses were approximately $19.78M in order to qualify for the PPP loan amount received.
Based on their reported 227 jobs retained, this equals an estimated average yearly compensation of $87,141 per employee1.
Business Information - Canfield Scientific Inc in Parsippany, NJ
4 Woodhollow Rd
Parsippany, NJ 07054
Business Industry
Diagnostic Imaging Centers (NAICS code 621512)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: NJ-11Similar Companies near Parsippany
In the Parsippany area, 2 businesses in the "Diagnostic Imaging Centers" industry received a PPP loan. These local businesses reported an average of 115 employees (compared to this company's 227) and received an average PPP loan of $2,066,748 (compared to this company's $4.12M).
Similar Nearby Businesses Who Received PPP Funding:
Garden State Open Mri
Passaic, NJ
Industry PPP Comparison Statistics
Nationwide, 1,993 businesses in the "Diagnostic Imaging Centers" industry received a total of $407,606,280.00 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 14 employees, 94% lower than Canfield Scientific Inc's reported 227 employees, and received an average PPP loan of $204,519, 95% lower than this company's loan of $4.12M.
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.
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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