PPP Loan Data — Eastern Sports Medicine And Spine Associates, West Hartford, CT
Eastern Sports Medicine And Spine Associates
Entity: Limited Liability Company (LLC)
Location: West Hartford, CTTweet This • Search All PPP Data
Eastern Sports Medicine And Spine Associates is a limited liability company (LLC) located at 837 Prospect Ave in West Hartford, Connecticut that received a Coronavirus-related PPP loan from the SBA of $24,932.00 in May, 2020.
The company has reported itself as a Black or african american male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Eastern Sports Medicine And Spine Associates in West Hartford, CT received a Paycheck Protection Loan of $24,932 through Bank of America, National Association, which was approved in May, 2020.
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, Eastern Sports Medicine And Spine Associates' 2019 payroll expenses are estimated to be at least $119,674.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $39,891 per employee1
Reported PPP Proceed Usage:
On the PPP application, Eastern Sports Medicine And Spine Associates reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,932
Business Information - Eastern Sports Medicine And Spine Associates in West Hartford, CT
837 Prospect Ave
West Hartford, CT 6105
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111
Business Owner Demographics
Race: Black or African American
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near West Hartford
In the West Hartford area, 51 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 27 employees (compared to this company's 3) and received an average PPP loan of $365,898 (compared to this company's $24,932).
Similar Nearby Businesses Who Received PPP Funding:
Charter Oak Health Center Inc
Collins Medical Associates 2, PC
William R Maron MD PC
Crest Family Dental, LLC
Bruce Chozick MD PC
Eastern Sports Medicine And Spine Associates LLC
West Hartford, CT
Lauren A. Daman Mdpc
Charter Anesthesiology LLC
West Hartford, CT
Stephen F Calderon 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, 267% higher than Eastern Sports Medicine And Spine Associates' reported 3 employees, and received an average PPP loan of $119,087, 378% higher than this company's loan of $24,932.
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