PPP Loan Data — Compression Therapy Solutions, Indianapolis, IN
Compression Therapy Solutions
Entity: Subchapter S Corporation
Location: Indianapolis, INTweet This • Search All PPP Data
Compression Therapy Solutions is a subchapter s corporation located at 711 S East St Ste 1-a in Indianapolis, Indiana that received a Coronavirus-related PPP loan from the SBA of $46,250.00 in July, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Compression Therapy Solutions in Indianapolis, IN received a Paycheck Protection Loan of $46,250 through JPMorgan Chase Bank, National Association, which was approved in July, 2020.
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, Compression Therapy Solutions' 2019 payroll expenses are estimated to be at least $222,000.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $44,400 per employee1
Reported PPP Proceed Usage:
On the PPP application, Compression Therapy Solutions reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $37,184
- Utilities: $495
- Rent: $2,100
- Health Care: $6,471
Business Information - Compression Therapy Solutions in Indianapolis, IN
711 S East St Ste 1-a
Indianapolis, IN 46225
Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers
NAICS code 423450
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Indianapolis
In the Indianapolis area, 4 businesses in the "Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 5) and received an average PPP loan of $95,137 (compared to this company's $46,250).
Similar Nearby Businesses Who Received PPP Funding:
Anthony Products Inc
GIO Pelle Inc
Industry PPP Comparison Statistics
Nationwide, 14,443 businesses in the "Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers" industry received a total of $1.42B 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 9 employees, 80% higher than Compression Therapy Solutions' reported 5 employees, and received an average PPP loan of $98,382, 113% higher than this company's loan of $46,250.
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