PPP Loan Data — Ferrell Eye Clinic. PC, Lewisburg, WV
Ferrell Eye Clinic. PC
Location: Lewisburg, WVTweet This • Search All PPP Data
Ferrell Eye Clinic. PC is a corporation located at 256 Lafayette St in Lewisburg, West Virginia that received a Coronavirus-related PPP loan from the SBA of $46,895.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least seven people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:City National Bank of West Virginia
Ferrell Eye Clinic. PC in Lewisburg, WV received a Paycheck Protection Loan of $46,895 through City National Bank of West Virginia, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in March, 2021.
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, Ferrell Eye Clinic. PC's 2019 payroll expenses are estimated to be at least $225,096.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $32,157 per employee1
Reported PPP Proceed Usage:
On the PPP application, Ferrell Eye Clinic. PC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $42,395
- Utilities: $2,200
- Rent: $2,300
Business Information - Ferrell Eye Clinic. PC in Lewisburg, WV
256 Lafayette St
Lewisburg, WV 24901
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Lewisburg
In the Lewisburg area, 12 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 12 employees (compared to this company's 7) and received an average PPP loan of $108,939 (compared to this company's $46,895).
Similar Nearby Businesses Who Received PPP Funding:
Southern Wv Medical And Surgical Specialists PLLC
Greenbrier Center For Comprehensive Otolaryngology
The Heart Center Inc
West Virginia School Of Osteopathic Medicine Clinic Inc
Rock Medical LTD
Southern Wv Medical & Surgical Specialists PLLC
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, 57% higher than Ferrell Eye Clinic. PC's reported 7 employees, and received an average PPP loan of $119,087, 154% higher than this company's loan of $46,895.
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Footnotes & Information
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