PPP Loan Data — Colonial Practice Management LLC, Sumter, SC
Colonial Practice Management LLC
Entity: Limited Liability Company (LLC)
Location: Sumter, SCTweet This • Search All PPP Data
Colonial Practice Management LLC is a limited liability company (LLC) located at 220 Broad St in Sumter, South Carolina that received a Coronavirus-related PPP loan from the SBA of $3,702,940.00 in April, 2020.
$ PPP Loan Information
Colonial Practice Management LLC received a Paycheck Protection Loan of $3.7M through SYNOVUS BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Colonial Practice Management LLC's total 2019 payroll expenses were approximately $17.77M in order to qualify for the PPP loan amount received.
Based on their reported 448 jobs retained, this equals an estimated average yearly compensation of $39,674 per employee1.
Business Information - Colonial Practice Management LLC in Sumter, SC
220 Broad St
Sumter, SC 29150
Corporate, Subsidiary, and Regional Managing Offices (NAICS code 551114)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: SC-05
Industry PPP Comparison Statistics
Nationwide, 1,588 businesses in the "Corporate, Subsidiary, and Regional Managing Offices" industry received a total of $300,626,226.00 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 17 employees, 96% lower than Colonial Practice Management LLC's reported 448 employees, and received an average PPP loan of $189,311, 95% lower than this company's loan of $3.7M.
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.
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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