PPP Loan Data — Fairway Medical Center, LLC, Covington, LA
Fairway Medical Center, LLC
Entity: Limited Liability Company (LLC)
Location: Covington, LATweet This • Search All PPP Data
Fairway Medical Center, LLC is a limited liability company (LLC) located at 67252 Industry Ln in Covington, Louisiana that received a Coronavirus-related PPP loan from the SBA of $2,077,800.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Fairway Medical Center, LLC in Covington, LA received a Paycheck Protection Loan of $2.08M through b1Bank, 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, Fairway Medical Center, LLC's 2019 payroll expenses are estimated to be at least $9.97M.
Based on their reported 219 jobs retained, this equals an estimated average yearly compensation of $45,541 per employee1
Reported PPP Proceed Usage:
On the PPP application, Fairway Medical Center, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,077,800
Business Information - Fairway Medical Center, LLC in Covington, LA
67252 Industry Ln
Covington, LA 70433
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 Covington
In the Covington area, 118 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 219) and received an average PPP loan of $115,528 (compared to this company's $2.08M).
Similar Nearby Businesses Who Received PPP Funding:
Palo Medical LLC
Tigerscan Professional LLC
Heritage Health LLC
The Dermatology Clinic Of St. Tammany II LLC
Northshore Dermatology Associates
Scott P Striplin MD
Foot & Ankle Health Center, LLC
Louisiana Family Eyecare LLC
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, 95% lower than Fairway Medical Center, LLC's reported 219 employees, and received an average PPP loan of $119,087, 94% lower than this company's loan of $2.08M.
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