PPP Loan Data — Jennifer Messina Psychology, PC, Manhasset, NY
Jennifer Messina Psychology, PC
Entity: Subchapter S Corporation
Location: Manhasset, NYTweet This • Search All PPP Data
Jennifer Messina Psychology, PC is a subchapter s corporation located at 665 Plandome Rd in Manhasset, New York that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Jennifer Messina Psychology, PC in Manhasset, NY received a Paycheck Protection Loan of $25,000 through JPMorgan Chase Bank, National Association, which was approved in May, 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.The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 1 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Jennifer Messina Psychology, PC's 2019 payroll expenses are estimated to be at least $120,000 (not accounting for salary amounts > $100k).
Because the 1 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Jennifer Messina Psychology, PC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $20,000
- Utilities: $1,000
- Rent: $4,000
Business Information - Jennifer Messina Psychology, PC in Manhasset, NY
665 Plandome Rd
Manhasset, NY 11030
Offices of All Other Miscellaneous Health Practitioners
NAICS code 621399
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Manhasset
In the Manhasset area, 4 businesses in the "Offices of All Other Miscellaneous Health Practitioners" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 1) and received an average PPP loan of $45,309 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Advance Prosthetics & Orthotics
Natural Acupuncture & Wellness PC
Harvest Acupuncture PC
Industry PPP Comparison Statistics
Nationwide, 64,105 businesses in the "Offices of All Other Miscellaneous Health Practitioners" industry received a total of $2.47B 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 5 employees, 400% higher than Jennifer Messina Psychology, PC's reported 1 employees, and received an average PPP loan of $38,577, 54% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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