PPP Loan Data — Med-A-Vision, Inc, Brewer, ME
Entity: Subchapter S Corporation
Location: Brewer, METweet This • Search All PPP Data
Med-A-Vision, Inc is a subchapter s corporation located at 41 Acme Road, Suite 2 in Brewer, Maine that received a Coronavirus-related PPP loan from the SBA of $45,909.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Machias Savings Bank
Med-A-Vision, Inc in Brewer, ME received a Paycheck Protection Loan of $45,909 through Machias Savings Bank, 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, Med-A-Vision, Inc's 2019 payroll expenses are estimated to be at least $220,363.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $44,073 per employee1
Reported PPP Proceed Usage:
On the PPP application, Med-A-Vision, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,909
Business Information - Med-A-Vision, Inc in Brewer, ME
41 Acme Road, Suite 2
Brewer, ME 4412
Third Party Administration of Insurance and Pension Funds
NAICS code 524292
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 1,272 businesses in the "Third Party Administration of Insurance and Pension Funds" industry received a total of $288.85M 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 18 employees, 260% higher than Med-A-Vision, Inc's reported 5 employees, and received an average PPP loan of $227,081, 395% higher than this company's loan of $45,909.
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Footnotes & Information
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