PPP Loan Data — Functional Chiropractic Testing, PC, Woodhaven, NY
Functional Chiropractic Testing, PC is a subchapter s corporation located at 8416 Jamaica Ave in Woodhaven, New York that received a Coronavirus-related PPP loan from the SBA of $25,455.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:JPMorgan Chase Bank, National Association
Functional Chiropractic Testing, PC in Woodhaven, NY received a Paycheck Protection Loan of $25,455 through JPMorgan Chase Bank, National Association, which was approved in May, 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 April, 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, Functional Chiropractic Testing, PC's 2019 payroll expenses are estimated to be at least $122,184.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $17,455 per employee1
Reported PPP Proceed Usage:
On the PPP application, Functional Chiropractic Testing, PC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,455
- Utilities: $1,000
Business Information - Functional Chiropractic Testing, PC in Woodhaven, NY
8416 Jamaica Ave
Woodhaven, NY 11421
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
PPP recipients in this industry report an average of 0 employees, 100% lower than Functional Chiropractic Testing, PC's reported 7 employees, and received an average PPP loan of $0, 100% lower than this company's loan of $25,455.
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Footnotes & Information
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