George Hepburn in Severna Park, MD - SBA PPP Loan Data (Paycheck Protection Program)

PPP Loan Data — George Hepburn, Severna Park, MD

George Hepburn

Entity: Corporation

Industry: All Other Health and Personal Care Stores

Location: Severna Park, MD

George Hepburn is a corporation located at 770 Ritchie Hwy Suite W-21 in Severna Park, Maryland that received a Coronavirus-related PPP loan from the SBA of $3,690,527.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 290 people during the applicable loan loan period.

$ PPP Loan Information
Loan #9178077002

Loan Size:

$3.69M

Jobs Retained:

290

Loan Approved:

2020-04-09

Loan Status:

Paid in Full or Forgiven

Lender:

Sandy Spring Bank

George Hepburn in Severna Park, MD received a Paycheck Protection Loan of $3.69M through Sandy Spring Bank, 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 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.

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.

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, George Hepburn's 2019 payroll expenses are estimated to be at least $17.71M.

Based on their reported 290 jobs retained, this equals an estimated average yearly compensation of $61,085 per employee¹

Reported PPP Proceed Usage:

On the PPP application, George Hepburn reported intending to use the proceeds of their PPP loan for the following expenses:

Payroll: $3,678,312
Utilities: $1,211
Rent: $11,004

Because the loan received by George Hepburn 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 - George Hepburn in Severna Park, MD

George Hepburn
770 Ritchie Hwy Suite W-21
Severna Park, MD 21146

Business Industry:
All Other Health and Personal Care Stores
NAICS code 446199

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

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

Anne Arundel County, MD — SBA Office 0373 — Congressional District: MD-04

Similar Companies near Severna Park

In the Severna Park area, 5 businesses in the "All Other Health and Personal Care Stores" industry received a PPP loan. These local businesses reported an average of 62 employees (compared to this company's 290) and received an average PPP loan of $771,131 (compared to this company's $3.69M).

Similar Nearby Businesses Who Received PPP Funding:

Stillwater Acupuncture Clinic
Severna Park, MD

$20,832 PPP Loan

High Precision Compnonents
Severna Park, MD

$15,045 PPP Loan

Fabu LLC
Severna Park, MD

$123,000 PPP Loan

High Precision Components
Severna Park, MD

$6,250 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 13,849 businesses in the "All Other Health and Personal Care Stores" industry received a total of $582.53M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.

PPP recipients in this industry report an average of 5 employees, 98% lower than George Hepburn's reported 290 employees, and received an average PPP loan of $42,063, 99% lower than this company's loan of $3.69M.

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. 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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