PPP Loan Data — Excel Medical Billing Inc, Ashton, MD
Excel Medical Billing Inc is a subchapter s corporation located at 17739 New Hampshire Ave. in Ashton, Maryland that received a Coronavirus-related PPP loan from the SBA of $46,100.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Capital One, National Association
Excel Medical Billing Inc in Ashton, MD received a Paycheck Protection Loan of $46,100 through Capital One, National Association, which was approved in April, 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, Excel Medical Billing Inc's 2019 payroll expenses are estimated to be at least $221,280.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $44,256 per employee1
Reported PPP Proceed Usage:
On the PPP application, Excel Medical Billing Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,100
Business Information - Excel Medical Billing Inc in Ashton, MD
17739 New Hampshire Ave.
Ashton, MD 20861
Other Accounting Services
NAICS code 541219
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Ashton
In the Ashton area, 5 businesses in the "Other Accounting Services" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 5) and received an average PPP loan of $35,743 (compared to this company's $46,100).
Similar Nearby Businesses Who Received PPP Funding:
Vantage Business Services, Inc
Sandy Spring, MD
Corporate Cfo Services LLC
Industry PPP Comparison Statistics
Nationwide, 64,443 businesses in the "Other Accounting Services" industry received a total of $2.03B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 3 employees, 40% lower than Excel Medical Billing Inc's reported 5 employees, and received an average PPP loan of $31,571, 32% lower than this company's loan of $46,100.
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Footnotes & Information
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