PPP Loan Data — Hermann/Washington Eye Centers, LLC, Hermann, MO
Hermann/Washington Eye Centers, LLC is a limited liability company (LLC) located at 228 East First Street in Hermann, Missouri that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Peoples Savings Bank of Rhineland
Hermann/Washington Eye Centers, LLC in Hermann, MO received a Paycheck Protection Loan of $25,000 through Peoples Savings Bank of Rhineland, which was approved in April, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA. According to SBA records, a total of $200 in approved PPP funding has not been disbursed.
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, Hermann/Washington Eye Centers, LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hermann/Washington Eye Centers, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Hermann/Washington Eye Centers, LLC in Hermann, MO
228 East First Street
Hermann, MO 65041
Offices of Optometrists
NAICS code 621320
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Hermann
In the Hermann area, 2 businesses in the "Offices of Optometrists" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 4) and received an average PPP loan of $21,550 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Jack F. Backs, DMD
Industry PPP Comparison Statistics
Nationwide, 27,285 businesses in the "Offices of Optometrists" industry received a total of $1.98B 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 8 employees, 100% higher than Hermann/Washington Eye Centers, LLC's reported 4 employees, and received an average PPP loan of $72,657, 191% higher than this company's loan of $25,000.
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Footnotes & Information
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