PPP Loan Data — Middle Tennessee Emergency Physicians, Lafayette, TN
Middle Tennessee Emergency Physicians
Location: Lafayette, TNTweet This • Search All PPP Data
Middle Tennessee Emergency Physicians is a corporation located at 710 Deer Ln in Lafayette, Tennessee that received a Coronavirus-related PPP loan from the SBA of $1,859,344.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Truist Bank d/b/a Branch Banking & Trust Co
Middle Tennessee Emergency Physicians in Lafayette, TN received a Paycheck Protection Loan of $1.86M through Truist Bank d/b/a Branch Banking & Trust Co, which was approved in April, 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 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, Middle Tennessee Emergency Physicians' 2019 payroll expenses are estimated to be at least $8.92M.
Based on their reported 121 jobs retained, this equals an estimated average yearly compensation of $73,759 per employee1
Reported PPP Proceed Usage:
On the PPP application, Middle Tennessee Emergency Physicians reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,859,344
Business Information - Middle Tennessee Emergency Physicians in Lafayette, TN
710 Deer Ln
Lafayette, TN 37083
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Lafayette
In the Lafayette area, 10 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 121) and received an average PPP loan of $234,139 (compared to this company's $1.86M).
Similar Nearby Businesses Who Received PPP Funding:
Family Care Center PLLC
Kingston Springs, TN
Primary Healthcare Group Inc
Armadillo Medical Services, PC
Alpha Mecial Associates Inc
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, 91% lower than Middle Tennessee Emergency Physicians' reported 121 employees, and received an average PPP loan of $119,087, 94% lower than this company's loan of $1.86M.
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Footnotes & Information
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