PPP Loan Data — Keitel Eye Care, PC, Mount Vernon, IN
Keitel Eye Care, PC is a subchapter s corporation located at 1900 West 4th Street in Mount Vernon, Indiana that received a Coronavirus-related PPP loan from the SBA of $47,070.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least six people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:United Fidelity Bank, FSB
Keitel Eye Care, PC in Mount Vernon, IN received a Paycheck Protection Loan of $47,070 through United Fidelity Bank, FSB, 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, Keitel Eye Care, PC's 2019 payroll expenses are estimated to be at least $225,936.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $37,656 per employee1
Reported PPP Proceed Usage:
On the PPP application, Keitel Eye Care, PC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,070
Business Information - Keitel Eye Care, PC in Mount Vernon, IN
1900 West 4th Street
Mount Vernon, IN 47620
Offices of Optometrists
NAICS code 621320
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Mount Vernon
In the Mount Vernon area, 2 businesses in the "Offices of Optometrists" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 6) and received an average PPP loan of $41,435 (compared to this company's $47,070).
Similar Nearby Businesses Who Received PPP Funding:
Sarah H. Appel OD
Mount Vernon, IN
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, 33% higher than Keitel Eye Care, PC's reported 6 employees, and received an average PPP loan of $72,657, 54% higher than this company's loan of $47,070.
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Footnotes & Information
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