PPP Loan Data — Neurosurgical Assoicates, PC, Knoxville, TN
Neurosurgical Assoicates, PC
Location: Knoxville, TNTweet This • Search All PPP Data
Neurosurgical Assoicates, PC is a corporation located at 1932 Alcoa Hwy in Knoxville, Tennessee that received a Coronavirus-related PPP loan from the SBA of $1,600,300.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 95 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Horizon Bank
Neurosurgical Assoicates, PC in Knoxville, TN received a Paycheck Protection Loan of $1.6M through First Horizon Bank, 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 February, 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, Neurosurgical Assoicates, PC's 2019 payroll expenses are estimated to be at least $7.68M.
Based on their reported 95 jobs retained, this equals an estimated average yearly compensation of $80,857 per employee1
Reported PPP Proceed Usage:
On the PPP application, Neurosurgical Assoicates, PC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,297,300
- Utilities: $3,000
- Rent: $180,000
- Health Care: $120,000
Business Information - Neurosurgical Assoicates, PC in Knoxville, TN
1932 Alcoa Hwy
Knoxville, TN 37920
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Knoxville
In the Knoxville area, 23 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 29 employees (compared to this company's 95) and received an average PPP loan of $353,093 (compared to this company's $1.6M).
Similar Nearby Businesses Who Received PPP Funding:
Carmen Lozzio DBA Clinical Cytogenetic Services
Urology And Urologic Surgery PC
University Eye Specialists, PC
High Risk Obstetrical Consultants, PLLC
Montgomery Medical LLC
Nephrology Associates Of Knoxville PC
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, 88% lower than Neurosurgical Assoicates, PC's reported 95 employees, and received an average PPP loan of $119,087, 93% lower than this company's loan of $1.6M.
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Footnotes & Information
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