PPP Loan Data — DR. Richard Lee Cooper PC, Tulsa, OK
DR. Richard Lee Cooper PC
Location: Tulsa, OKTweet This • Search All PPP Data
DR. Richard Lee Cooper PC is a corporation located at 10131 S Yale Ave in Tulsa, Oklahoma that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in January, 2021.
The company has reported itself as a male owned business, and employed at least one person during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
DR. Richard Lee Cooper PC in Tulsa, OK received a Paycheck Protection Loan of $25,000 through SpiritBank, which was approved in January, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 1 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, DR. Richard Lee Cooper PC's 2019 payroll expenses are estimated to be at least $120,000 (not accounting for salary amounts > $100k).
Because the 1 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, DR. Richard Lee Cooper PC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,996
- Utilities: $1
Business Information - DR. Richard Lee Cooper PC in Tulsa, OK
10131 S Yale Ave
Tulsa, OK 74137
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Tulsa
In the Tulsa area, 136 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 1) and received an average PPP loan of $148,593 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Paul R. Callegari, MD., PC
Heart Rhythm Institute Of Oklahoma Strategic Support LLC
Cardiovascular Surgical Specialists Corp
Dermatology And Laser Center Of Oklahoma
IR By Thomas White MD PLLC
Richard N. Marple, MD., PLLC
Cosmetic Center Of Tulsa LLC
South Tulsa Plastic Surgery
Heather B Summers MD PC
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, 1000% higher than DR. Richard Lee Cooper PC's reported 1 employees, and received an average PPP loan of $119,087, 376% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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