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PPP Loan Data — Dept Of Medicine Service Group At Suny Health Science Center,
Syracuse, NY
Dept Of Medicine Service Group At Suny Health Science Center
Entity: Limited Liability Company (LLC)
Industry: Offices of Physicians (except Mental Health Specialists)
Location: Syracuse, NY
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Dept Of Medicine Service Group At Suny Health Science Center is a limited liability company (LLC) located at 750 East Adams Street in Syracuse, New York that received a Coronavirus-related PPP loan from the SBA of $6,239,095.00 in April, 2020.
$
PPP Loan Information
Loan #3124667206
Loan Size:
Jobs Retained:
308Loan Approved:
2020-04-16Loan Status:
Paid in Full or ForgivenLender:
Manufacturers and Traders Trust CompanyDept Of Medicine Service Group At Suny Health Science Center in Syracuse, NY received a Paycheck Protection Loan of $6.24M through Manufacturers and Traders Trust Company, 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 October, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Dept Of Medicine Service Group At Suny Health Science Center's 2019 payroll expenses are estimated to be at least $29.95M.
Based on their reported 308 jobs retained, this equals an estimated average yearly compensation of $97,233 per employee1
Reported PPP Proceed Usage:
On the PPP application, Dept Of Medicine Service Group At Suny Health Science Center reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $5,737,866
- Utilities: $3,888
- Rent: $193,122
- Health Care: $304,219
Business Information - Dept Of Medicine Service Group At Suny Health Science Center in Syracuse, NY
750 East Adams Street
Syracuse, NY 13210
Business Industry:
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: Y
Rural / Urban: Urban
Businesses Using Same Address:
There are 9 other businesses that received a PPP loan registered to the same address as Dept Of Medicine Service Group At Suny Health Science Center.
Advocates For Upstate Medical University
Other Grantmaking and Giving Services
University Pathologists Laboratories, LLP
Offices of Physicians (except Mental Health Specialists)
University Otolaryngology Assoc Of Central New York LLP
Offices of Physicians (except Mental Health Specialists)
Neurology Medical Service Group, LLP
Offices of Physicians (except Mental Health Specialists)
Physical Medicine And Rehabilitation Msg, LLP
Offices of Physicians (except Mental Health Specialists)
The Upstate Foundation, Inc
Other Grantmaking and Giving Services
Upstate Urology, Inc
Offices of Physicians (except Mental Health Specialists)
Upstate Medical Anesthesiology Group, Inc
Research and Development in the Social Sciences and Humanities
Upstate Emergency Medicine, Inc
Offices of Physicians (except Mental Health Specialists)
Similar Companies near Syracuse
In the Syracuse area, 43 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 308) and received an average PPP loan of $475,930 (compared to this company's $6.24M).
Similar Nearby Businesses Who Received PPP Funding:
Central New York Surgical Physicians, PC
Syracuse, NY
Syracuse Gastroenterology Associates PC
Syracuse, NY
Hayes H Wanamaker MD PC
Syracuse, NY
Lawrence Cecchi MD PC
Syracuse, NY
Rabia Rizwana, MD
Syracuse, NY
Upstate University Medical Associates At Syracuse, Inc
Syracuse, NY
Pediatric Service Group, LLP
Syracuse, NY
Paul S. Cohen, MD., PC
Syracuse, NY
EAR Consultants Of Central New York
Syracuse, NY
Industry PPP Comparison Statistics
Nationwide, 176,348 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a total of $21.04B 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, 96% lower than Dept Of Medicine Service Group At Suny Health Science Center's reported 308 employees, and received an average PPP loan of $119,282, 98% lower than this company's loan of $6.24M.
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. Estimations for informational purposes only. 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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