PPP Loan Data — Newstat, PLLC, Knoxville, TN
Location: Knoxville, TNTweet This • Search All PPP Data
Newstat, PLLC is a partnership located at 1900 N. Winston Rd Suite 501 in Knoxville, Tennessee that received a Coronavirus-related PPP loan from the SBA of $3,468,831.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 171 people during the applicable loan loan period.
$ PPP Loan Information
Lender:MOUNTAIN COMMERCE BANK
Newstat, PLLC in Knoxville, TN received a Paycheck Protection Loan of $3.47M through MOUNTAIN COMMERCE BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Newstat, PLLC's total 2019 payroll expenses were approximately $16.65M in order to qualify for the PPP loan amount received.
Based on their reported 171 jobs retained, this equals an estimated average yearly compensation of $97,371 per employee1.
Business Information - Newstat, PLLC in Knoxville, TN
1900 N. Winston Rd Suite 501
Knoxville, TN 37919
Offices of Physicians (except Mental Health Specialists) (NAICS code 621111)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: UnreportedCongressional District: TN-02
Similar Companies near Knoxville
In the Knoxville area, 28 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 42 employees (compared to this company's 171) and received an average PPP loan of $572,185 (compared to this company's $3.47M).
Similar Nearby Businesses Who Received PPP Funding:
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DRS. Black & Benton, P. S. C.
Physicians' Medical Enterprises, LLC
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Concord Recovery Center, LLC
Industry PPP Comparison Statistics
Nationwide, 114,302 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a total of $15,789,256,580.00 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 10 employees, 94% lower than Newstat, PLLC's reported 171 employees, and received an average PPP loan of $138,136, 96% lower than this company's loan of $3.47M.
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, and is published unmodified, as provided by the SBA.
Footnotes & Information
1. 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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