PPP Loan Data — Hoffmann Chiropractic Clinic PA, Siloam Springs, AR
Hoffmann Chiropractic Clinic PA is a professional association located at 212 Broadway St in Siloam Springs, Arkansas that received a Coronavirus-related PPP loan from the SBA of $46,800.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Hoffmann Chiropractic Clinic PA in Siloam Springs, AR received a Paycheck Protection Loan of $46,800 through Arvest 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, Hoffmann Chiropractic Clinic PA's 2019 payroll expenses are estimated to be at least $224,640.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $37,440 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hoffmann Chiropractic Clinic PA reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,800
Business Information - Hoffmann Chiropractic Clinic PA in Siloam Springs, AR
212 Broadway St
Siloam Springs, AR 72761
Offices of Chiropractors
NAICS code 621310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Siloam Springs
In the Siloam Springs area, 8 businesses in the "Offices of Chiropractors" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 6) and received an average PPP loan of $21,996 (compared to this company's $46,800).
Similar Nearby Businesses Who Received PPP Funding:
Morter Wellness, LLC
Weum Health Center
Freeman Chiropractic Inc
Megan Chanhnouvong DBA Dr. Megan's Chiropractic
Peak Posture & Performance PLLC
Chandler Chiropractic PA
Siloam Springs, AR
Favorite Family Chiropractic, LLC
Industry PPP Comparison Statistics
Nationwide, 49,175 businesses in the "Offices of Chiropractors" industry received a total of $1.52B 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 4 employees, 33% lower than Hoffmann Chiropractic Clinic PA's reported 6 employees, and received an average PPP loan of $30,923, 34% lower than this company's loan of $46,800.
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Footnotes & Information
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