PPP Loan Data — Manet Community Health Center Incorporated, North Quincy, MA
Manet Community Health Center Incorporated
Entity: Non-profit Organization
Location: North Quincy, MATweet This • Search All PPP Data
Manet Community Health Center Incorporated is a non-profit organization located at 110 W Squantum St in North Quincy, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $2,028,844.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Manet Community Health Center Incorporated in North Quincy, MA received a Paycheck Protection Loan of $2.03M through Bank of America, National Association, which was approved in May, 2020.
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, Manet Community Health Center Incorporated's 2019 payroll expenses are estimated to be at least $9.74M.
Based on their reported 152 jobs retained, this equals an estimated average yearly compensation of $64,069 per employee1
Reported PPP Proceed Usage:
On the PPP application, Manet Community Health Center Incorporated reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,028,844
Business Information - Manet Community Health Center Incorporated in North Quincy, MA
110 W Squantum St
North Quincy, MA 2171
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near North Quincy
In the North Quincy area, 6 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 31 employees (compared to this company's 152) and received an average PPP loan of $394,525 (compared to this company's $2.03M).
Similar Nearby Businesses Who Received PPP Funding:
George H. Theodore, MD. PC
3D Medical LLC
Community Pediatrics 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, 93% lower than Manet Community Health Center Incorporated's reported 152 employees, and received an average PPP loan of $119,087, 94% lower than this company's loan of $2.03M.
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Footnotes & Information
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