PPP Loan Data — Medside Corporation, Sandy Springs, GA
Medside Corporation is a subchapter s corporation located at 1120 Hope Road in Sandy Springs, Georgia that received a Coronavirus-related PPP loan from the SBA of $1,600,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 344 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Medside Corporation in Sandy Springs, GA received a Paycheck Protection Loan of $1.6M through Colony Bank, 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, Medside Corporation's 2019 payroll expenses are estimated to be at least $7.68M.
Based on their reported 344 jobs retained, this equals an estimated average yearly compensation of $22,326 per employee1
Reported PPP Proceed Usage:
On the PPP application, Medside Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,600,000
Business Information - Medside Corporation in Sandy Springs, GA
1120 Hope Road
Sandy Springs, GA 30350
Home Health Care Services
NAICS code 621610
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Sandy Springs
In the Sandy Springs area, 21 businesses in the "Home Health Care Services" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 344) and received an average PPP loan of $98,095 (compared to this company's $1.6M).
Similar Nearby Businesses Who Received PPP Funding:
A1 Nurse Care LLC
Caring Companions Of Atlanta, LLC
Sandy Springs, GA
Industry PPP Comparison Statistics
Nationwide, 91,996 businesses in the "Home Health Care Services" industry received a total of $7.67B 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 15 employees, 96% lower than Medside Corporation's reported 344 employees, and received an average PPP loan of $83,373, 95% lower than this company's loan of $1.6M.
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Footnotes & Information
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