PPP Loan Data — D W Timms MD PC, Savannah, GA
D W Timms MD PC
Location: Savannah, GATweet This • Search All PPP Data
D W Timms MD PC is a corporation located at 310 Eisenhower Drive Bldg #3 in Savannah, Georgia that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in June, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:American Express National Bank
D W Timms MD PC in Savannah, GA received a Paycheck Protection Loan of $25,000 through American Express National Bank, which was approved in June, 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 May, 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, D W Timms MD PC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, D W Timms MD PC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $22,500
- Rent: $2,500
Business Information - D W Timms MD PC in Savannah, GA
310 Eisenhower Drive Bldg #3
Savannah, GA 31406
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Savannah
In the Savannah area, 136 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 3) and received an average PPP loan of $191,307 (compared to this company's $25,000).
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Industry PPP Comparison Statistics
Nationwide, 176,926 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a total of $21.07B 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 11 employees, 267% higher than D W Timms MD PC's reported 3 employees, and received an average PPP loan of $119,087, 376% higher than this company's loan of $25,000.
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