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PPP Loan Data — Contemporary Medical Services PC,
Islip, NY
Contemporary Medical Services PC
Entity: Corporation
Industry: Offices of Physicians (except Mental Health Specialists)
Location: Islip, NY
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Contemporary Medical Services PC is a corporation located at 265 Main St in Islip, New York that received a Coronavirus-related PPP loan from the SBA of $196,600.00 in April, 2020.
The company has reported itself as a Black or african american male owned business, and employed at least 27 people during the applicable loan loan period.
$ PPP Loan Information
Loan Size:
Jobs Retained:
27Loan Approved:
2020-04-07Lender:
PEOPLE'S UNITED BANK, NATIONAL ASSOCIATIONContemporary Medical Services PC received a Paycheck Protection Loan of $196,600 through PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Contemporary Medical Services PC's total 2019 payroll expenses were approximately $943,680 in order to qualify for the PPP loan amount received.
Based on their reported 27 jobs retained, this equals an estimated average yearly compensation of $34,951 per employee1.
Business Information - Contemporary Medical Services PC in Islip, NY
265 Main St
Islip, NY 11751
Business Industry
Offices of Physicians (except Mental Health Specialists) (NAICS code 621111)
Business Owner Demographics
Race / Ethnicity: BLACK OR AFRICAN AMERICAN
Gender: MALE OWNED
Veteran Status: NON-VETERAN
Congressional District: NY-02Similar Companies near Islip
In the Islip area, 9 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 31 employees (compared to this company's 27) and received an average PPP loan of $333,581 (compared to this company's $196,600).
Similar Nearby Businesses Who Received PPP Funding:
South Shore Neurologic Assoicates
Islip, NY
Gloria Escobar MD DBA Islip Family Pracitce
Islip, NY
Island Medical Services, PC
Islip, NY
Islip Pediatrics PC
Islip, NY
South Bay Physial Therapy And Sports RE
Islip, NY
Mzserina Holistic Solutions Inc
Islip Terrace, NY
Harvey J Miller MD
Islip, NY
Patricia Gallo
Islip Terrace, NY
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, 63% lower than Contemporary Medical Services PC's reported 27 employees, and received an average PPP loan of $138,136, 30% lower than this company's loan of $196,600.
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. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
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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