PPP Loan Data — Miles Health Services, PA, Hickory, NC
Miles Health Services, PA is a corporation located at 1055 13th St Se in Hickory, North Carolina that received a Coronavirus-related PPP loan from the SBA of $46,977.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least four people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Horizon Bank
Miles Health Services, PA in Hickory, NC received a Paycheck Protection Loan of $46,977 through First Horizon Bank, which was approved in May, 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, Miles Health Services, PA's 2019 payroll expenses are estimated to be at least $225,490.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $56,373 per employee1
Reported PPP Proceed Usage:
On the PPP application, Miles Health Services, PA reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,977
Business Information - Miles Health Services, PA in Hickory, NC
1055 13th St Se
Hickory, NC 28602
Offices of Chiropractors
NAICS code 621310
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Hickory
In the Hickory area, 12 businesses in the "Offices of Chiropractors" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 4) and received an average PPP loan of $26,565 (compared to this company's $46,977).
Similar Nearby Businesses Who Received PPP Funding:
Hickory Chiropractic Clinic, PLLC
William Neely Harkey, III PA
Healing For Life PLLC
Carolina Chiropractic Wellness Group, Inc
Crouse Chiropractic, PLLC
Alliance Chiropractic Center Inc
Industry PPP Comparison Statistics
Nationwide, 49,175 businesses in the "Offices of Chiropractors" industry received a total of $1.52B 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 4 employees, the same amount reported by Miles Health Services, PA and received an average PPP loan of $30,923, 34% lower than this company's loan of $46,977.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!