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PPP Loan Data — Orthopaedic Associates Of Grand Rapids, PC, Grand Rapids, MI

SBA PPP loan data, payroll data, and salaries for Orthopaedic Associates Of Grand Rapids, PC
MI

Orthopaedic Associates Of Grand Rapids, PC

Entity: Corporation

Industry: Offices of Physicians (except Mental Health Specialists)

Location: Grand Rapids, MI

Search All PPP Data

Orthopaedic Associates Of Grand Rapids, PC is a corporation located at 4665 44th St Ste A190 in Grand Rapids, Michigan that received a Coronavirus-related PPP loan from the SBA of $5,994,600.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$5.99M

Jobs Retained:

450

Loan Approved:

2020-04-09

Lender:

OLD NATIONAL BANK

Orthopaedic Associates Of Grand Rapids, PC received a Paycheck Protection Loan of $5.99M through OLD NATIONAL BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Orthopaedic Associates Of Grand Rapids, PC's total 2019 payroll expenses were approximately $28.77M in order to qualify for the PPP loan amount received.

Based on their reported 450 jobs retained, this equals an estimated average yearly compensation of $63,942 per employee1.

Because the loan received by Orthopaedic Associates Of Grand Rapids, PC 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 - Orthopaedic Associates Of Grand Rapids, PC in Grand Rapids, MI

Orthopaedic Associates Of Grand Rapids, PC
4665 44th St Ste A190
Grand Rapids, MI 49512

Business Industry

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

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MI-02

Similar Companies near Grand Rapids

In the Grand Rapids area, 3 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 154 employees (compared to this company's 450) and received an average PPP loan of $2,029,331 (compared to this company's $5.99M).

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, 98% lower than Orthopaedic Associates Of Grand Rapids, PC's reported 450 employees, and received an average PPP loan of $138,136, 98% lower than this company's loan of $5.99M.

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/orthopaedic-associates-of-grand-rapids-pc-grand-rapids-mi