PPP Loan Data — Cullman Primary Care, PC, Cullman, AL
Cullman Primary Care, PC is a corporation located at 503 Clark St Ne in Cullman, Alabama that received a Coronavirus-related PPP loan from the SBA of $1,913,460.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Premier Bank of the South
Cullman Primary Care, PC in Cullman, AL received a Paycheck Protection Loan of $1.91M through Premier Bank of the South, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in April, 2021.
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, Cullman Primary Care, PC's 2019 payroll expenses are estimated to be at least $9.18M.
Based on their reported 156 jobs retained, this equals an estimated average yearly compensation of $58,876 per employee1
Reported PPP Proceed Usage:
On the PPP application, Cullman Primary Care, PC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,435,095
- Utilities: $270,000
- Mortgage Interest: $108,365
- Rent: $100,000
Business Information - Cullman Primary Care, PC in Cullman, AL
503 Clark St Ne
Cullman, AL 35055
HMO Medical Centers
NAICS code 621491
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Cullman
In the Cullman area, 2 businesses in the "HMO Medical Centers" industry received a PPP loan. These local businesses reported an average of 82 employees (compared to this company's 156) and received an average PPP loan of $984,519 (compared to this company's $1.91M).
Similar Nearby Businesses Who Received PPP Funding:
Good Samaritan Clinic Of Cullman, Inc
Industry PPP Comparison Statistics
Nationwide, 1,095 businesses in the "HMO Medical Centers" industry received a total of $219.39M 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 20 employees, 87% lower than Cullman Primary Care, PC's reported 156 employees, and received an average PPP loan of $200,361, 90% lower than this company's loan of $1.91M.
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Footnotes & Information
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