PPP Loan Data — Mercer Bucks Orthopaedics PC, Hamilton, NJ
Mercer Bucks Orthopaedics PC
Location: Hamilton, NJTweet This • Search All PPP Data
Mercer Bucks Orthopaedics PC is a corporation located at 2501 Kuser Rd Ste 3 in Hamilton, New Jersey that received a Coronavirus-related PPP loan from the SBA of $1,607,700.00 in January, 2021.
The company has reported itself as a male owned business, and employed at least 113 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Loan Source Incorporated
Mercer Bucks Orthopaedics PC in Hamilton, NJ received a Paycheck Protection Loan of $1.61M through Loan Source Incorporated, which was approved in January, 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, Mercer Bucks Orthopaedics PC's 2019 payroll expenses are estimated to be at least $7.72M.
Based on their reported 113 jobs retained, this equals an estimated average yearly compensation of $68,292 per employee1
Reported PPP Proceed Usage:
On the PPP application, Mercer Bucks Orthopaedics PC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,607,697
- Utilities: $1
Business Information - Mercer Bucks Orthopaedics PC in Hamilton, NJ
2501 Kuser Rd Ste 3
Hamilton, NJ 8691
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Hamilton
In the Hamilton area, 42 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 16 employees (compared to this company's 113) and received an average PPP loan of $207,412 (compared to this company's $1.61M).
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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, 90% lower than Mercer Bucks Orthopaedics PC's reported 113 employees, and received an average PPP loan of $119,087, 93% lower than this company's loan of $1.61M.
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