PPP Loan Data — I-Care Family Vision Center LLC, Sharon, MA
I-Care Family Vision Center LLC is a corporation located at 6 Partridge Hill in Sharon, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $24,920.00 in April, 2020.
The company has reported itself as an Asian male owned business, and employed at least two people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Rockland Trust Company
I-Care Family Vision Center LLC in Sharon, MA received a Paycheck Protection Loan of $24,920 through Rockland Trust Company, 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 May, 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, I-Care Family Vision Center LLC's 2019 payroll expenses are estimated to be at least $119,616.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $59,808 per employee1
Reported PPP Proceed Usage:
On the PPP application, I-Care Family Vision Center LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,920
Business Information - I-Care Family Vision Center LLC in Sharon, MA
6 Partridge Hill
Sharon, MA 2067
Offices of Optometrists
NAICS code 621320
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Sharon
In the Sharon area, 9 businesses in the "Offices of Optometrists" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 2) and received an average PPP loan of $44,098 (compared to this company's $24,920).
Similar Nearby Businesses Who Received PPP Funding:
Jessica Crooker OD PLLC
South East Eye Health Center, Inc
Sharon Optical Inc
I Care Family Vision LLC
Premier Family Eyecare PC
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, 300% higher than I-Care Family Vision Center LLC's reported 2 employees, and received an average PPP loan of $72,657, 192% higher than this company's loan of $24,920.
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Footnotes & Information
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