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PPP Loan Data — North Clinic PA, Minneapolis, MN

SBA PPP loan data, payroll data, and salaries for North Clinic PA
MN

North Clinic PA

Entity: Corporation

Industry: Offices of Physicians (except Mental Health Specialists)

Location: Minneapolis, MN

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North Clinic PA is a corporation located at 9201 West Broadway Ave N in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $4,140,712.00 in April, 2020.

The company has reported itself as a female owned business, and employed at least 269 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$4.14M

Jobs Retained:

269

Loan Approved:

2020-04-07

Lender:

CITIZENS INDEPENDENT BANK

North Clinic PA received a Paycheck Protection Loan of $4.14M through CITIZENS INDEPENDENT BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, North Clinic PA's total 2019 payroll expenses were approximately $19.88M in order to qualify for the PPP loan amount received.

Based on their reported 269 jobs retained, this equals an estimated average yearly compensation of $73,886 per employee1.

Because the loan received by North Clinic PA is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - North Clinic PA in Minneapolis, MN

North Clinic PA
9201 West Broadway Ave N
Minneapolis, MN 55445

Business Industry

Offices of Physicians (except Mental Health Specialists) (NAICS code 621111)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: FEMALE OWNED

Veteran Status: Unreported

Congressional District: MN-03

Similar Companies near Minneapolis

In the Minneapolis area, 4 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 68 employees (compared to this company's 269) and received an average PPP loan of $1,044,079 (compared to this company's $4.14M).

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, 96% lower than North Clinic PA's reported 269 employees, and received an average PPP loan of $138,136, 97% lower than this company's loan of $4.14M.

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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/north-clinic-pa-minneapolis-mn