PPP Loan Data — Michael J Harrison DVM LLC, Reisterstown, MD
Michael J Harrison DVM LLC is a limited liability company (LLC) located at 3100 Black Rock Rd in Reisterstown, Maryland that received a Coronavirus-related PPP loan from the SBA of $25,177.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Michael J Harrison DVM LLC in Reisterstown, MD received a Paycheck Protection Loan of $25,177 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 June, 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, Michael J Harrison DVM LLC's 2019 payroll expenses are estimated to be at least $120,850.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,213 per employee1
Reported PPP Proceed Usage:
On the PPP application, Michael J Harrison DVM LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,177
Business Information - Michael J Harrison DVM LLC in Reisterstown, MD
3100 Black Rock Rd
Reisterstown, MD 21136
NAICS code 541940
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Reisterstown
In the Reisterstown area, 4 businesses in the "Veterinary Services" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 4) and received an average PPP loan of $120,311 (compared to this company's $25,177).
Similar Nearby Businesses Who Received PPP Funding:
Advanced Veterinary Complex Inc
Mountainside Veterinary Hospital, Inc
Joy E. Goode
Industry PPP Comparison Statistics
Nationwide, 21,908 businesses in the "Veterinary Services" industry received a total of $2.01B 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 12 employees, 200% higher than Michael J Harrison DVM LLC's reported 4 employees, and received an average PPP loan of $91,913, 265% higher than this company's loan of $25,177.
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Footnotes & Information
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