PPP Loan Data — Drs. Harris Birkhill Wang Songe & Associates PC, Dearborn, MI
Drs. Harris Birkhill Wang Songe & Associates PC
Location: Dearborn, MITweet This • Search All PPP Data
Drs. Harris Birkhill Wang Songe & Associates PC is a corporation located at 840 Oakwood Blvd in Dearborn, Michigan that received a Coronavirus-related PPP loan from the SBA of $1,851,327.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Drs. Harris Birkhill Wang Songe & Associates PC in Dearborn, MI received a Paycheck Protection Loan of $1.85M through Mi Bank, which was approved in January, 2021.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 89. 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, Drs. Harris Birkhill Wang Songe & Associates PC's 2019 payroll expenses are estimated to be at least $8.89M (not accounting for salary amounts > $100k).
Because the 73 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, Drs. Harris Birkhill Wang Songe & Associates PC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,851,321
- Utilities: $1
Business Information - Drs. Harris Birkhill Wang Songe & Associates PC in Dearborn, MI
840 Oakwood Blvd
Dearborn, MI 48124
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 Dearborn
In the Dearborn area, 116 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 15 employees (compared to this company's 73) and received an average PPP loan of $140,165 (compared to this company's $1.85M).
Similar Nearby Businesses Who Received PPP Funding:
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Ghaleb F. Hatem, MD., PC
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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, 85% lower than Drs. Harris Birkhill Wang Songe & Associates PC's reported 73 employees, and received an average PPP loan of $119,087, 94% lower than this company's loan of $1.85M.
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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