PPP Loan Data — Hidalgo Medical Services, Lordsburg, NM
Hidalgo Medical Services
Entity: Non-profit Organization
Location: Lordsburg, NMTweet This • Search All PPP Data
Hidalgo Medical Services is a non-profit organization located at 530 Demoss Street in Lordsburg, New Mexico that received a Coronavirus-related PPP loan from the SBA of $1,800,000.00 in April, 2020.
The company has reported itself as a White male owned non-profit, and employed at least 235 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Hidalgo Medical Services in Lordsburg, NM received a Paycheck Protection Loan of $1.8M through Western 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 January, 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, Hidalgo Medical Services' 2019 payroll expenses are estimated to be at least $8.64M.
Based on their reported 235 jobs retained, this equals an estimated average yearly compensation of $36,766 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hidalgo Medical Services reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,350,000
- Utilities: $450,000
Business Information - Hidalgo Medical Services in Lordsburg, NM
530 Demoss Street
Lordsburg, NM 88045
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111
Business Owner Demographics
Ethnicity: Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 176,926 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a total of $21.07B 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, 95% lower than Hidalgo Medical Services' reported 235 employees, and received an average PPP loan of $119,087, 93% lower than this company's loan of $1.8M.
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Footnotes & Information
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