PPP Loan Data — Merced Faculty Associates Medical Group, Inc, Merced, CA
Merced Faculty Associates Medical Group, Inc is a corporation located at 1763 Grogan Ave in Merced, California that received a Coronavirus-related PPP loan from the SBA of $2,273,700.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Central Valley Community Bank
Merced Faculty Associates Medical Group, Inc in Merced, CA received a Paycheck Protection Loan of $2.27M through Central Valley Community 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, Merced Faculty Associates Medical Group, Inc's 2019 payroll expenses are estimated to be at least $10.91M.
Based on their reported 181 jobs retained, this equals an estimated average yearly compensation of $60,297 per employee1
Reported PPP Proceed Usage:
On the PPP application, Merced Faculty Associates Medical Group, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,273,700
Business Information - Merced Faculty Associates Medical Group, Inc in Merced, CA
1763 Grogan Ave
Merced, CA 95341
Offices of Physicians, Mental Health Specialists
NAICS code 621112
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Merced
In the Merced area, 7 businesses in the "Offices of Physicians, Mental Health Specialists" industry received a PPP loan. These local businesses reported an average of 37 employees (compared to this company's 181) and received an average PPP loan of $420,595 (compared to this company's $2.27M).
Similar Nearby Businesses Who Received PPP Funding:
Merced Heart Associates
Central Valley Cancer Center, Inc
Timothy S Johnston MD PC
Merced Ambulatory Endoscopy Center
Merced Medical Supply, Inc
Industry PPP Comparison Statistics
Nationwide, 21,049 businesses in the "Offices of Physicians, Mental Health Specialists" industry received a total of $1.68B 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 8 employees, 96% lower than Merced Faculty Associates Medical Group, Inc's reported 181 employees, and received an average PPP loan of $80,024, 96% lower than this company's loan of $2.27M.
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Footnotes & Information
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