PPP Loan Data — Melvin I Spielberg MD PC, East Windsor, CT
Melvin I Spielberg MD PC
Entity: Professional Association
Location: East Windsor, CTTweet This • Search All PPP Data
Melvin I Spielberg MD PC is a professional association located at 148 North Rd in East Windsor, Connecticut that received a Coronavirus-related PPP loan from the SBA of $25,180.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Melvin I Spielberg MD PC in East Windsor, CT received a Paycheck Protection Loan of $25,180 through Bank of America, National Association, which was approved in May, 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 April, 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, Melvin I Spielberg MD PC's 2019 payroll expenses are estimated to be at least $120,864.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,288 per employee1
Reported PPP Proceed Usage:
On the PPP application, Melvin I Spielberg MD PC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,180
Business Information - Melvin I Spielberg MD PC in East Windsor, CT
148 North Rd
East Windsor, CT 6088
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 East Windsor
In the East Windsor area, 7 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 3) and received an average PPP loan of $44,780 (compared to this company's $25,180).
Similar Nearby Businesses Who Received PPP Funding:
Olivia Anne Giuliano
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Margaret Bason MD
Andrew Ganeles MD LLC
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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, 267% higher than Melvin I Spielberg MD PC's reported 3 employees, and received an average PPP loan of $119,087, 373% higher than this company's loan of $25,180.
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