PPP Loan Data — Justice Ophthalmics, Inc, Cordova, TN
Justice Ophthalmics, Inc is a corporation located at 830 Herbert Rd in Cordova, Tennessee that received a Coronavirus-related PPP loan from the SBA of $46,260.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Justice Ophthalmics, Inc in Cordova, TN received a Paycheck Protection Loan of $46,260 through Regions Bank, which was approved in April, 2020.
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, Justice Ophthalmics, Inc's 2019 payroll expenses are estimated to be at least $222,048.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $74,016 per employee1
Reported PPP Proceed Usage:
On the PPP application, Justice Ophthalmics, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,260
Business Information - Justice Ophthalmics, Inc in Cordova, TN
830 Herbert Rd
Cordova, TN 38018
Home Health Care Services
NAICS code 621610
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Cordova
In the Cordova area, 52 businesses in the "Home Health Care Services" industry received a PPP loan. These local businesses reported an average of 16 employees (compared to this company's 3) and received an average PPP loan of $94,516 (compared to this company's $46,260).
Similar Nearby Businesses Who Received PPP Funding:
Personal Care Services Midsouth, LLC
Eagle Medical Staffing, LLC
Mid-South Home Health Services LLC
No Place Like Home Inc
Katie's Compassion Ministries LLC
Unity Hospice Care LLC
Industry PPP Comparison Statistics
Nationwide, 91,996 businesses in the "Home Health Care Services" industry received a total of $7.67B 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 15 employees, 400% higher than Justice Ophthalmics, Inc's reported 3 employees, and received an average PPP loan of $83,373, 80% higher than this company's loan of $46,260.
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Footnotes & Information
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