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PPP Loan Data — Multiviz Health Management Corp,
Far Rockaway, NY
Multiviz Health Management Corp
Entity: Corporation
Industry: All Other Outpatient Care Centers
Location: Far Rockaway, NY
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Multiviz Health Management Corp is a corporation located at 529 Beach 20th St in Far Rockaway, New York that received a Coronavirus-related PPP loan from the SBA of $534,595.00 in March, 2021.
The company has reported itself as a Black or african american male owned business, and employed at least 70 people during the applicable loan loan period.
$
PPP Loan Information
Loan #3542238608
Loan Size:
Jobs Retained:
70Loan Approved:
2021-03-17Loan Status:
Ongoing LoanLender:
Bank of America, National AssociationMultiviz Health Management Corp in Far Rockaway, NY received a Paycheck Protection Loan of $534,595 through Bank of America, National Association, which was approved in March, 2021.
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.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Multiviz Health Management Corp's 2019 payroll expenses are estimated to be at least $2.57M.
Based on their reported 70 jobs retained, this equals an estimated average yearly compensation of $36,658 per employee1
Reported PPP Proceed Usage:
On the PPP application, Multiviz Health Management Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $534,591
Business Information - Multiviz Health Management Corp in Far Rockaway, NY
529 Beach 20th St
Far Rockaway, NY 11691
Business Industry:
All Other Outpatient Care Centers
NAICS code 621498
Business Owner Demographics
Race: Black or African American
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Far Rockaway
In the Far Rockaway area, 3 businesses in the "All Other Outpatient Care Centers" industry received a PPP loan. These local businesses reported an average of 30 employees (compared to this company's 70) and received an average PPP loan of $232,534 (compared to this company's $534,595).
Similar Nearby Businesses Who Received PPP Funding:
Vimini LLC
Far Rockaway, NY
Cedarhurst Medical Associates PC
Far Rockaway, NY
Industry PPP Comparison Statistics
Nationwide, 7,757 businesses in the "All Other Outpatient Care Centers" industry received a total of $1.45B 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 20 employees, 71% lower than Multiviz Health Management Corp's reported 70 employees, and received an average PPP loan of $186,305, 65% lower than this company's loan of $534,595.
Multiviz Health Management Corp
Entity: Corporation
Industry: Offices of Physicians (except Mental Health Specialists)
Location: Far Rockaway, NY
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Multiviz Health Management Corp is a corporation located at 529 Beach 20th St in Far Rockaway, New York that received a Coronavirus-related PPP loan from the SBA of $643,872.00 in May, 2020.
The company has reported itself as a Black or african american male owned business, and employed at least 93 people during the applicable loan loan period.
$
PPP Loan Information
Loan #5762067708
Loan Size:
Jobs Retained:
93Loan Approved:
2020-05-03Loan Status:
Ongoing LoanLender:
Bank of America, National AssociationMultiviz Health Management Corp in Far Rockaway, NY received a Paycheck Protection Loan of $643,872 through Bank of America, National Association, which was approved in May, 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.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Multiviz Health Management Corp's 2019 payroll expenses are estimated to be at least $3.09M.
Based on their reported 93 jobs retained, this equals an estimated average yearly compensation of $33,232 per employee1
Reported PPP Proceed Usage:
On the PPP application, Multiviz Health Management Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $643,872
Business Information - Multiviz Health Management Corp in Far Rockaway, NY
529 Beach 20th St
Far Rockaway, NY 11691
Business Industry:
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111
Business Owner Demographics
Race: Black or African American
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: New Business or 2 years or less
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Far Rockaway
In the Far Rockaway area, 30 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 18 employees (compared to this company's 93) and received an average PPP loan of $266,319 (compared to this company's $643,872).
Similar Nearby Businesses Who Received PPP Funding:
Rachel Bernstein
Far Rockaway, NY
Tiffany Harris
Far Rockaway, NY
Margaret Safo Physician PC
Far Rockaway, NY
Nadine Momplaisir
Far Rockaway, NY
Brocha Kaplan
Far Rockaway, NY
Nadine Momplaisir
Far Rockaway, NY
Chricini Walker
Arverne, NY
Brocha Kaplan
Far Rockaway, NY
David Gordon DPM PC
Far Rockaway, NY
Industry PPP Comparison Statistics
Nationwide, 166,360 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a total of $20.5B 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, 88% lower than Multiviz Health Management Corp's reported 93 employees, and received an average PPP loan of $123,209, 81% lower than this company's loan of $643,872.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.
All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
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