PPP Loan Data — Innovative Oncology Solutions, Inc, Sorrento, FL
Innovative Oncology Solutions, Inc
Location: Sorrento, FLTweet This • Search All PPP Data
Innovative Oncology Solutions, Inc is a corporation located at 25833 Feather Ridge Ln in Sorrento, Florida that received a Coronavirus-related PPP loan from the SBA of $46,200.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Innovative Oncology Solutions, Inc in Sorrento, FL received a Paycheck Protection Loan of $46,200 through Paragon 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 February, 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, Innovative Oncology Solutions, Inc's 2019 payroll expenses are estimated to be at least $221,760.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $73,920 per employee1
Reported PPP Proceed Usage:
On the PPP application, Innovative Oncology Solutions, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,200
Business Information - Innovative Oncology Solutions, Inc in Sorrento, FL
25833 Feather Ridge Ln
Sorrento, FL 32776
Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers
NAICS code 423450
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 14,443 businesses in the "Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers" industry received a total of $1.42B 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 9 employees, 200% higher than Innovative Oncology Solutions, Inc's reported 3 employees, and received an average PPP loan of $98,382, 113% higher than this company's loan of $46,200.
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Footnotes & Information
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