PPP Loan Data — Gateway Medical Associates PC, Exton, PA
Gateway Medical Associates PC
Location: Exton, PATweet This • Search All PPP Data
Gateway Medical Associates PC is a corporation located at 412 Creamery Way in Exton, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $2,495,300.00 in April, 2020.
$ PPP Loan Information
Jobs Retained:0 Unreported
Lender:KEYBANK NATIONAL ASSOCIATION
Gateway Medical Associates PC in Exton, PA received a Paycheck Protection Loan of $2.5M through KEYBANK NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Gateway Medical Associates PC's total 2019 payroll expenses were approximately $11.98M in order to qualify for the PPP loan amount received.
Unlike most businesses, Gateway Medical Associates PC's PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.
Business Information - Gateway Medical Associates PC in Exton, PA
412 Creamery Way
Exton, PA 19341
Offices of Physicians (except Mental Health Specialists) (NAICS code 621111)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: PA-06
Similar Companies near Exton
In the Exton area, 32 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 0) and received an average PPP loan of $186,253 (compared to this company's $2.5M).
Similar Nearby Businesses Who Received PPP Funding:
TMI Medical Group PC
Craig T Mchugh, DPM, PC
Plastic & Reconstructive Surgery
Kathryn Henry LLC
The Center For Sports Medicine
Glen Mills, PA
Healthy Steps Pediatrics, LLC
Daniel D Beninati MD
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, and received an average PPP loan of $138,136, 94% lower than this company's loan of $2.5M.
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, and is published unmodified, as provided by the SBA.
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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