PPP Loan Data — Orthopaedic Center Of Illinois LTD, Springfield, IL
Orthopaedic Center Of Illinois LTD
Location: Springfield, ILTweet This • Search All PPP Data
Orthopaedic Center Of Illinois LTD is a corporation located at 1301 S Koke Mill Rd in Springfield, Illinois that received a Coronavirus-related PPP loan from the SBA of $1,644,700.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 124 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of Springfield
Orthopaedic Center Of Illinois LTD in Springfield, IL received a Paycheck Protection Loan of $1.64M through Bank of Springfield, 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 December, 2020.
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, Orthopaedic Center Of Illinois LTD's 2019 payroll expenses are estimated to be at least $7.89M.
Based on their reported 124 jobs retained, this equals an estimated average yearly compensation of $63,666 per employee1
Reported PPP Proceed Usage:
On the PPP application, Orthopaedic Center Of Illinois LTD reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,644,700
Business Information - Orthopaedic Center Of Illinois LTD in Springfield, IL
1301 S Koke Mill Rd
Springfield, IL 62711
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Springfield
In the Springfield area, 5 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 54 employees (compared to this company's 124) and received an average PPP loan of $725,689 (compared to this company's $1.64M).
Similar Nearby Businesses Who Received PPP Funding:
Orthopedic Center Of Illinois LTD
Central Illinois Kidney& Dialysis Associ Ates S C
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, 91% lower than Orthopaedic Center Of Illinois LTD's reported 124 employees, and received an average PPP loan of $119,087, 93% lower than this company's loan of $1.64M.
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Footnotes & Information
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