PPP Loan Data — Lucas M. Lathrop, Roswell, GA
Lucas M. Lathrop
Entity: Sole Proprietorship
Location: Roswell, GATweet This • Search All PPP Data
Lucas M. Lathrop is a sole proprietorship located in Roswell, Georgia that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least one person during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:The Peoples Bank
Lucas M. Lathrop in Roswell, GA received a Paycheck Protection Loan of $25,000 through The Peoples Bank, which was approved in May, 2020.
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.
Reported PPP Proceed Usage:
On the PPP application, Lucas M. Lathrop reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $22,500
- Utilities: $2,500
Business Information - Lucas M. Lathrop in Roswell, GA
* Full address is redacted to protect the privacy of individuals.
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Roswell
In the Roswell area, 93 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 1) and received an average PPP loan of $123,120 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
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Mitchell W Hecht MD PC
Georgia Spine And Orthopaedics Of Atlanta LLC / Erik Thor Be
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Garry E Siegel MD PC
Industry PPP Comparison Statistics
Nationwide, 176,926 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a total of $21.07B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 3% of the total PPP funding allocated.
PPP recipients in this industry report an average of 11 employees, 1000% higher than Lucas M. Lathrop's reported 1 employees, and received an average PPP loan of $119,087, 376% 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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