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PPP Loan Data — Franklin E Mirrer MD Orthopaedic Surgeon Inc, Warwick, RI

ALERT: There are 2 PPP loans for a total of $355,600 in our database for businesses with the name "Franklin E Mirrer MD Orthopaedic Surgeon Inc" in Warwick, RI. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Franklin E Mirrer MD Orthopaedic Surgeon Inc
RI

Franklin E Mirrer MD Orthopaedic Surgeon Inc

Entity: Corporation

Industry: Offices of Physicians (except Mental Health Specialists)

Location: Warwick, RI

Search All PPP Data

Franklin E Mirrer MD Orthopaedic Surgeon Inc is a corporation located at 215 Toll Gate Rd Ste 206 in Warwick, Rhode Island that received a Coronavirus-related PPP loan from the SBA of $177,800.00 in January, 2021.

The company has reported itself as a male owned business, and employed at least seventeen people during the applicable loan loan period.

$ PPP Loan Information
Loan #4796238308

Loan Size:

$177,800

Jobs Retained:

17

Loan Approved:

2021-01-23

Loan Status:

Paid in Full or Forgiven

Lender:

The Washington Trust Company of Westerly

Franklin E Mirrer MD Orthopaedic Surgeon Inc in Warwick, RI received a Paycheck Protection Loan of $177,800 through The Washington Trust Company of Westerly, which was approved in January, 2021.

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 November, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Franklin E Mirrer MD Orthopaedic Surgeon Inc's 2019 payroll expenses are estimated to be at least $853,440.

Based on their reported 17 jobs retained, this equals an estimated average yearly compensation of $50,202 per employee1

Reported PPP Proceed Usage:

On the PPP application, Franklin E Mirrer MD Orthopaedic Surgeon Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $177,795
  • Utilities: $1

Business Information - Franklin E Mirrer MD Orthopaedic Surgeon Inc in Warwick, RI

Franklin E Mirrer MD Orthopaedic Surgeon Inc
215 Toll Gate Rd Ste 206
Warwick, RI 2886

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

Business Owner Demographics

Race: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Kent County, RI — SBA Office 0165 — Congressional District: RI-02

Similar Companies near Warwick

In the Warwick area, 64 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 28 employees (compared to this company's 17) and received an average PPP loan of $301,636 (compared to this company's $177,800).

Industry PPP Comparison Statistics

Nationwide, 176,426 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a total of $21.05B 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, 35% lower than Franklin E Mirrer MD Orthopaedic Surgeon Inc's reported 17 employees, and received an average PPP loan of $119,310, 33% lower than this company's loan of $177,800.

SBA PPP loan data, payroll data, and salaries for Franklin E. Mirrer, MD. Orthopaedic Surgeon, Inc
RI

Franklin E. Mirrer, MD. Orthopaedic Surgeon, Inc

Entity: Corporation

Industry: Offices of Physicians (except Mental Health Specialists)

Location: Warwick, RI

Search All PPP Data

Franklin E. Mirrer, MD. Orthopaedic Surgeon, Inc is a corporation located at 215 Toll Gate Rd Suite 206 in Warwick, Rhode Island that received a Coronavirus-related PPP loan from the SBA of $177,800.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least twelve people during the applicable loan loan period.

$ PPP Loan Information
Loan #4692947101

Loan Size:

$177,800

Jobs Retained:

12

Loan Approved:

2020-04-13

Loan Status:

Paid in Full or Forgiven

Lender:

The Washington Trust Company of Westerly

Franklin E. Mirrer, MD. Orthopaedic Surgeon, Inc in Warwick, RI received a Paycheck Protection Loan of $177,800 through The Washington Trust Company of Westerly, 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 May, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Franklin E. Mirrer, MD. Orthopaedic Surgeon, Inc's 2019 payroll expenses are estimated to be at least $853,440.

Based on their reported 12 jobs retained, this equals an estimated average yearly compensation of $71,120 per employee1

Reported PPP Proceed Usage:

On the PPP application, Franklin E. Mirrer, MD. Orthopaedic Surgeon, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $177,800

Business Information - Franklin E. Mirrer, MD. Orthopaedic Surgeon, Inc in Warwick, RI

Franklin E. Mirrer, MD. Orthopaedic Surgeon, Inc
215 Toll Gate Rd Suite 206
Warwick, RI 2886

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

Business Owner Demographics

Race: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Kent County, RI — SBA Office 0165 — Congressional District: RI-02

Similar Companies near Warwick

In the Warwick area, 64 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 28 employees (compared to this company's 12) and received an average PPP loan of $301,636 (compared to this company's $177,800).

Industry PPP Comparison Statistics

Nationwide, 176,426 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a total of $21.05B 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, 8% lower than Franklin E. Mirrer, MD. Orthopaedic Surgeon, Inc's reported 12 employees, and received an average PPP loan of $119,310, 33% lower than this company's loan of $177,800.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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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Source: www.federalpay.org/paycheck-protection-program/franklin-e-mirrer-md-orthopaedic-surgeon-inc-warwick-ri