PPP Loan Data — Med-Metrix LLC, Parsippany, NJ
Med-Metrix LLC is a limited liability company (LLC) located at 9 Entin Rd 3rd Floor in Parsippany, New Jersey that received a Coronavirus-related PPP loan from the SBA of $5,842,191.00 in April, 2020.
$ PPP Loan Information Loan #4111017107
Loan Status:Ongoing Loan
Lender:TD Bank, National Association
Med-Metrix LLC in Parsippany, NJ received a Paycheck Protection Loan of $5.84M through TD Bank, National Association, which was approved in April, 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, Med-Metrix LLC's 2019 payroll expenses are estimated to be at least $28.04M.
Based on their reported 437 jobs retained, this equals an estimated average yearly compensation of $64,171 per employee1
Reported PPP Proceed Usage:
On the PPP application, Med-Metrix LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $5,842,191
Business Information - Med-Metrix LLC in Parsippany, NJ
9 Entin Rd 3rd Floor
Parsippany, NJ 7054
Other Accounting Services
NAICS code 541219
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Parsippany
In the Parsippany area, 31 businesses in the "Other Accounting Services" industry received a PPP loan. These local businesses reported an average of 24 employees (compared to this company's 437) and received an average PPP loan of $332,521 (compared to this company's $5.84M).
Similar Nearby Businesses Who Received PPP Funding:
Mannannahiamkarim & Associates Inc
Howard Komendant CPA PC
Strategia Business Solutions Corp
Monroe Tax Preparation And Multiservices Corp
UZ Capital LLC
Elite Security System LLC
Dwiatek Gutt & Levy LLC
Industry PPP Comparison Statistics
Nationwide, 54,943 businesses in the "Other Accounting Services" industry received a total of $1,891,051,915.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 4 employees, 99% lower than Med-Metrix LLC's reported 437 employees, and received an average PPP loan of $34,418, 99% lower than this company's loan of $5.84M.
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Footnotes & Information
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