PPP Loan Data — Lifestrength Physical Therapy, Inc, Towson, MD
Lifestrength Physical Therapy, Inc
Entity: Subchapter S Corporation
Location: Towson, MDTweet This • Search All PPP Data
Lifestrength Physical Therapy, Inc is a subchapter s corporation located at 110 West Road, Suite 105 in Towson, Maryland that received a Coronavirus-related PPP loan from the SBA of $46,300.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Rosedale Federal Savings & Loan Association
Lifestrength Physical Therapy, Inc in Towson, MD received a Paycheck Protection Loan of $46,300 through Rosedale Federal Savings & Loan Association, 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 April, 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, Lifestrength Physical Therapy, Inc's 2019 payroll expenses are estimated to be at least $222,240.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $44,448 per employee1
Reported PPP Proceed Usage:
On the PPP application, Lifestrength Physical Therapy, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,300
Business Information - Lifestrength Physical Therapy, Inc in Towson, MD
110 West Road, Suite 105
Towson, MD 21204
Offices of Physical, Occupational and Speech Therapists, and Audiologists
NAICS code 621340
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Towson
In the Towson area, 9 businesses in the "Offices of Physical, Occupational and Speech Therapists, and Audiologists" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 5) and received an average PPP loan of $59,721 (compared to this company's $46,300).
Similar Nearby Businesses Who Received PPP Funding:
Therapy & Learning Center, LLC
Language To Literacy
Towson Physical Therapy
To The Core Physical Therapy & Conditioning, LLC
Carol Bedwell Frazier, PT, PA
Michael J Mauro
Industry PPP Comparison Statistics
Nationwide, 39,529 businesses in the "Offices of Physical, Occupational and Speech Therapists, and Audiologists" industry received a total of $2.73B 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, 60% higher than Lifestrength Physical Therapy, Inc's reported 5 employees, and received an average PPP loan of $69,079, 49% higher than this company's loan of $46,300.
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