PPP Loan Data — Medical Imaging Of Lehigh Valley, PC, Allentown, PA
Medical Imaging Of Lehigh Valley, PC
Location: Allentown, PATweet This • Search All PPP Data
Medical Imaging Of Lehigh Valley, PC is a corporation located at 1255 S Cedar Crest Blvd in Allentown, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $2,725,400.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 101 people during the applicable loan loan period.
$ PPP Loan Information
Medical Imaging Of Lehigh Valley, PC in Allentown, PA received a Paycheck Protection Loan of $2.73M through AMERICAN BANK, which was approved in April, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 101 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 131.
Based on standard PPP eligibility rules, Medical Imaging Of Lehigh Valley, PC's total 2019 payroll expenses were approximately $13.08M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 101 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Medical Imaging Of Lehigh Valley, PC in Allentown, PA
1255 S Cedar Crest Blvd
Allentown, PA 18103
Offices of Physicians (except Mental Health Specialists) (NAICS code 621111)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: UnreportedCongressional District: PA-07
Similar Companies near Allentown
In the Allentown area, 48 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 22 employees (compared to this company's 101) and received an average PPP loan of $384,123 (compared to this company's $2.73M).
Similar Nearby Businesses Who Received PPP Funding:
Johnny S Chung MD PC
Lehigh Valley Pediatric Associates
Dermatology & Skin Cancer Center, PC
Aesthetic Surgery Associates, LLP
Lehigh Valley Womens Medical Specialties PC
Samina Wahhab MD
Paragon Hospitalists, LLC
Colon Rectal Surgery Associates
Trexler Park Gynecology LLC
Industry PPP Comparison Statistics
Nationwide, 114,302 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a total of $15,789,256,580.00 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 10 employees, 90% lower than Medical Imaging Of Lehigh Valley, PC's reported 101 employees, and received an average PPP loan of $138,136, 95% lower than this company's loan of $2.73M.
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.
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