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PPP Loan Data — Northern Medical Group PLLC,
Brewster, NY
Northern Medical Group PLLC
Entity: Limited Liability Company (LLC)
Industry: Offices of Physicians (except Mental Health Specialists)
Location: Brewster, NY
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Northern Medical Group PLLC is a limited liability company (LLC) located at 111 Clock Tower Cmns in Brewster, New York that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in March, 2021.
The company has reported itself as a male owned business, and employed at least 247 people during the applicable loan loan period.
$
PPP Loan Information
Loan #9917968500
Loan Size:
Jobs Retained:
247Loan Approved:
2021-03-12Loan Status:
Ongoing LoanLender:
Manufacturers and Traders Trust CompanyNorthern Medical Group PLLC in Brewster, NY received a Paycheck Protection Loan of $2M through Manufacturers and Traders Trust Company, 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, Northern Medical Group PLLC's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 247 jobs retained, this equals an estimated average yearly compensation of $38,866 per employee1
Reported PPP Proceed Usage:
On the PPP application, Northern Medical Group PLLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,997
- Utilities: $1
Business Information - Northern Medical Group PLLC in Brewster, NY
111 Clock Tower Cmns
Brewster, NY 10509
Business Industry:
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Brewster
In the Brewster area, 5 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 53 employees (compared to this company's 247) and received an average PPP loan of $497,123 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Michael P. Burruano DO
Brewster, NY
Northeast Radiology, PC
Brewster, NY
Mani Hamedi
Brewster, NY
Industry PPP Comparison Statistics
Nationwide, 176,427 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a total of $21.05B 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, 96% lower than Northern Medical Group PLLC's reported 247 employees, and received an average PPP loan of $119,313, 94% lower than this company's loan of $2M.
Northern Medical Group, PLLC
Entity: Limited Liability Company (LLC)
Industry: Offices of Physicians, Mental Health Specialists
Location: Brewster, NY
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Northern Medical Group, PLLC is a limited liability company (LLC) located at 111 Clocktower Commons in Brewster, New York that received a Coronavirus-related PPP loan from the SBA of $3,223,852.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 234 people during the applicable loan loan period.
$
PPP Loan Information
Loan #9173817109
Loan Size:
Jobs Retained:
234Loan Approved:
2020-04-15Loan Status:
Paid in Full or ForgivenLender:
Manufacturers and Traders Trust CompanyNorthern Medical Group, PLLC in Brewster, NY received a Paycheck Protection Loan of $3.22M through Manufacturers and Traders Trust Company, 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 August, 2021.
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, Northern Medical Group, PLLC's 2019 payroll expenses are estimated to be at least $15.47M.
Based on their reported 234 jobs retained, this equals an estimated average yearly compensation of $66,130 per employee1
Reported PPP Proceed Usage:
On the PPP application, Northern Medical Group, PLLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,579,081
- Rent: $324,057
- Health Care: $320,714
Business Information - Northern Medical Group, PLLC in Brewster, NY
111 Clocktower Commons
Brewster, NY 10509
Business Industry:
Offices of Physicians, Mental Health Specialists
NAICS code 621112
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
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 Brewster
In the Brewster area, 5 businesses in the "Offices of Physicians, Mental Health Specialists" industry received a PPP loan. These local businesses reported an average of 49 employees (compared to this company's 234) and received an average PPP loan of $667,023 (compared to this company's $3.22M).
Similar Nearby Businesses Who Received PPP Funding:
Hudson Valley Regional Community Health Centers, Inc
Brewster, NY
Jeffrey Pracella
Brewster, NY
DR. Jeff Pracella
Brewster, NY
Industry PPP Comparison Statistics
Nationwide, 20,839 businesses in the "Offices of Physicians, Mental Health Specialists" industry received a total of $1.68B 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 8 employees, 97% lower than Northern Medical Group, PLLC's reported 234 employees, and received an average PPP loan of $80,585, 98% lower than this company's loan of $3.22M.
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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