PPP Loan Data — Eye Health Services, Inc, East Weymouth, MA
Eye Health Services, Inc is a corporation located at 97 Libbey Industrial Pkwy Ste 201 in East Weymouth, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $2,646,303.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Eye Health Services, Inc in East Weymouth, MA received a Paycheck Protection Loan of $2.65M through Eastern Bank, 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, Eye Health Services, Inc's 2019 payroll expenses are estimated to be at least $12.7M.
Based on their reported 222 jobs retained, this equals an estimated average yearly compensation of $57,217 per employee1
Reported PPP Proceed Usage:
On the PPP application, Eye Health Services, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,646,303
Business Information - Eye Health Services, Inc in East Weymouth, MA
97 Libbey Industrial Pkwy Ste 201
East Weymouth, MA 2189
Offices of Optometrists
NAICS code 621320
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near East Weymouth
In the East Weymouth area, 2 businesses in the "Offices of Optometrists" industry received a PPP loan. These local businesses reported an average of 114 employees (compared to this company's 222) and received an average PPP loan of $1,361,694 (compared to this company's $2.65M).
Similar Nearby Businesses Who Received PPP Funding:
Thomas H Aleo OD PC
Industry PPP Comparison Statistics
Nationwide, 27,285 businesses in the "Offices of Optometrists" industry received a total of $1.98B 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 8 employees, 96% lower than Eye Health Services, Inc's reported 222 employees, and received an average PPP loan of $72,657, 97% lower than this company's loan of $2.65M.
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Footnotes & Information
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