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PPP Loan Data — Madison Emergency Physicians, SC, Madison, WI

SBA PPP loan data, payroll data, and salaries for Madison Emergency Physicians, SC
WI

Madison Emergency Physicians, SC

Entity: Corporation

Industry: Offices of Physicians (except Mental Health Specialists)

Location: Madison, WI

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Madison Emergency Physicians, SC is a corporation located at 1221 John Q. Hammons Drive in Madison, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $2,843,782.00 in April, 2020.

$ PPP Loan Information Loan #9083677002

Loan Size:

$2.84M

Jobs Retained:

141

Loan Approved:

2020-04-09

Loan Status:

Ongoing Loan

Lender:

First Business Bank

Madison Emergency Physicians, SC in Madison, WI received a Paycheck Protection Loan of $2.84M through First Business Bank, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Madison Emergency Physicians, SC's 2019 payroll expenses are estimated to be at least $13.65M.

Based on their reported 141 jobs retained, this equals an estimated average yearly compensation of $96,810 per employee1

Reported PPP Proceed Usage:

On the PPP application, Madison Emergency Physicians, SC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,843,782
Because the loan received by Madison Emergency Physicians, SC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Madison Emergency Physicians, SC in Madison, WI

Madison Emergency Physicians, SC
1221 John Q. Hammons Drive
Madison, WI 53717

Business Industry:
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Dane County, WI — SBA Office 0563 — Congressional District: WI-02

Similar Companies near Madison

In the Madison area, 10 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 38 employees (compared to this company's 141) and received an average PPP loan of $651,099 (compared to this company's $2.84M).

Industry PPP Comparison Statistics

Nationwide, 166,360 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a total of $20,497,104,478.00 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, 92% lower than Madison Emergency Physicians, SC's reported 141 employees, and received an average PPP loan of $123,209, 96% lower than this company's loan of $2.84M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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Source: www.federalpay.org/paycheck-protection-program/madison-emergency-physicians-sc-madison-wi