PPP Loan Data — Line Chiropractic Inc, Duluth, GA
Line Chiropractic Inc is a corporation located at 2550 Pleasant Hill Road Ste 124 in Duluth, Georgia that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Transportation Alliance Bank, Inc. d/b/a TAB Bank, Inc.
Line Chiropractic Inc in Duluth, GA received a Paycheck Protection Loan of $25,000 through Transportation Alliance Bank, Inc. d/b/a TAB Bank, Inc., 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 March, 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, Line Chiropractic Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Line Chiropractic Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $23,000
- Utilities: $2,000
Business Information - Line Chiropractic Inc in Duluth, GA
2550 Pleasant Hill Road Ste 124
Duluth, GA 30096
Offices of Chiropractors
NAICS code 621310
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Duluth
In the Duluth area, 50 businesses in the "Offices of Chiropractors" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 3) and received an average PPP loan of $27,232 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Centro Hopkins Chiropractic PC
Be The Light Chiropractic LLC
Line Chiropratic Inc
Advanced Integrate Medicine Of GA LLC
Kim's Acupuncture & Chiropractic, PC
Kang Chiropractic Clinic LLC
Happy Spine Chiropractic
Hansarang Clinic LLC
Johns Creek Management, LLC
Johns Creek, GA
Industry PPP Comparison Statistics
Nationwide, 49,175 businesses in the "Offices of Chiropractors" industry received a total of $1.52B 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 4 employees, 33% higher than Line Chiropractic Inc's reported 3 employees, and received an average PPP loan of $30,923, 24% higher than this company's loan of $25,000.
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