PPP Loan Data — Children's Specialty Group, Norfolk, VA
Children's Specialty Group
Entity: Limited Liability Company (LLC)
Location: Norfolk, VATweet This • Search All PPP Data
Children's Specialty Group is a limited liability company (LLC) located at 811 Redgate Avenue in Norfolk, Virginia that received a Coronavirus-related PPP loan from the SBA of $4,223,700.00 in April, 2020.
$ PPP Loan Information
Lender:TRUIST BANK D/B/A BRANCH BANKING & TRUST CO
Children's Specialty Group in Norfolk, VA received a Paycheck Protection Loan of $4.22M through TRUIST BANK D/B/A BRANCH BANKING & TRUST CO, which was approved in April, 2020.
Based on standard PPP eligibility rules, Children's Specialty Group's total 2019 payroll expenses were approximately $20.27M in order to qualify for the PPP loan amount received.
Based on their reported 249 jobs retained, this equals an estimated average yearly compensation of $81,421 per employee1.
Business Information - Children's Specialty Group in Norfolk, VA
811 Redgate Avenue
Norfolk, VA 23507
Offices of Physicians (except Mental Health Specialists) (NAICS code 621111)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: VA-03
Similar Companies near Norfolk
In the Norfolk area, 5 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 249) and received an average PPP loan of $2,450,743 (compared to this company's $4.22M).
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Industry PPP Comparison Statistics
Nationwide, 114,302 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a total of $15,789,256,580.00 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 10 employees, 96% lower than Children's Specialty Group's reported 249 employees, and received an average PPP loan of $138,136, 97% lower than this company's loan of $4.22M.
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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