PPP Loan Data — Maddrs, LLC, Easton, MD
Entity: Limited Liability Company (LLC)
Location: Easton, MDTweet This • Search All PPP Data
Maddrs, LLC is a limited liability company (LLC) located at 403 Marvel Ct in Easton, Maryland that received a Coronavirus-related PPP loan from the SBA of $46,043.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least two people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Maddrs, LLC in Easton, MD received a Paycheck Protection Loan of $46,043 through BayVanguard Bank, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 2. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Maddrs, LLC's 2019 payroll expenses are estimated to be at least $221,006 (not accounting for salary amounts > $100k).
Because the 2 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Maddrs, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,043
Business Information - Maddrs, LLC in Easton, MD
403 Marvel Ct
Easton, MD 21601
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Easton
In the Easton area, 26 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 12 employees (compared to this company's 2) and received an average PPP loan of $145,343 (compared to this company's $46,043).
Similar Nearby Businesses Who Received PPP Funding:
Zuleika M. Ghodsi, MD, PC
James And Dyer MD PA-
Eastern Shore Radiation Oncology Asso
Shore Radiology PA
Ludwig J. Eglseder, III, MD., PA
Anne L Grady
Familycare Of Easton, LLC
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, 450% higher than Maddrs, LLC's reported 2 employees, and received an average PPP loan of $119,087, 159% higher than this company's loan of $46,043.
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.
Have FederalPay.org's open data tools been valuable? Consider donating!