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PPP Loan Data — Familycare Medical Group, PC, Syracuse, NY

SBA PPP loan data, payroll data, and salaries for Familycare Medical Group, PC
NY

Familycare Medical Group, PC

Entity: Limited Liability Company (LLC)

Industry: Offices of Physicians (except Mental Health Specialists)

Location: Syracuse, NY

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Familycare Medical Group, PC is a limited liability company (LLC) located at 1001 W Fayette St in Syracuse, New York that received a Coronavirus-related PPP loan from the SBA of $5,692,580.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$5.69M

Jobs Retained:

479

Loan Approved:

2020-04-15

Lender:

MANUFACTURERS AND TRADERS TRUST COMPANY

Familycare Medical Group, PC received a Paycheck Protection Loan of $5.69M through MANUFACTURERS AND TRADERS TRUST COMPANY, which was approved in April, 2020.

Based on standard PPP eligibility rules, Familycare Medical Group, PC's total 2019 payroll expenses were approximately $27.32M in order to qualify for the PPP loan amount received.

Based on their reported 479 jobs retained, this equals an estimated average yearly compensation of $57,045 per employee1.

Because the loan received by Familycare Medical Group, PC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Familycare Medical Group, PC in Syracuse, NY

Familycare Medical Group, PC
1001 W Fayette St
Syracuse, NY 13204

Business Industry

Offices of Physicians (except Mental Health Specialists) (NAICS code 621111)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NY-24

Similar Companies near Syracuse

In the Syracuse area, 9 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 64 employees (compared to this company's 479) and received an average PPP loan of $1,200,012 (compared to this company's $5.69M).

Industry PPP Comparison Statistics

Nationwide, 114,302 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a total of $15,789,256,580.00 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 10 employees, 98% lower than Familycare Medical Group, PC's reported 479 employees, and received an average PPP loan of $138,136, 98% lower than this company's loan of $5.69M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/familycare-medical-group-pc-syracuse-ny