Michael J. Cascio, MD., Inc is a subchapter s corporation located at 56 Kingston Pl in Walnut Creek, California that received a Coronavirus-related PPP loan from the SBA of $25,192.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least one person during the applicable loan loan period.

$ PPP Loan Information

Loan #3031667207

Michael J. Cascio, MD., Inc in Walnut Creek, CA received a Paycheck Protection Loan of $25,192 through U.S. Bank, National Association, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

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 1 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.

The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

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, Michael J. Cascio, MD., Inc's 2019 payroll expenses are estimated to be at least $120,922 (not accounting for salary amounts > $100k).

Because the 1 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.

Reported PPP Proceed Usage:

On the PPP application, Michael J. Cascio, MD., Inc reported intending to use the proceeds of their PPP loan for the following expenses:

• Payroll: $25,192

Business Information - Michael J. Cascio, MD., Inc in Walnut Creek, CA

Similar Companies near Walnut Creek

In the Walnut Creek area, 139 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 12 employees (compared to this company's 1) and received an average PPP loan of $167,397 (compared to this company's $25,192).

Industry PPP Comparison Statistics

Nationwide, 166,222 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a total of $20.52B 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, 1000% higher than Michael J. Cascio, MD., Inc's reported 1 employees, and received an average PPP loan of $123,474, 390% higher than this company's loan of $25,192.