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PPP Loan Data — Orthopedic Institute PC,
Sioux Falls, SD
Orthopedic Institute PC
Entity: Subchapter S Corporation
Industry: Offices of Physicians (except Mental Health Specialists)
Location: Sioux Falls, SD
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Orthopedic Institute PC is a subchapter s corporation located at 810 E 23rd St in Sioux Falls, South Dakota that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.
$
PPP Loan Information
Loan #1415448403
Loan Size:
Jobs Retained:
209Loan Approved:
2021-02-01Loan Status:
Ongoing LoanLender:
First Bank & TrustOrthopedic Institute PC in Sioux Falls, SD received a Paycheck Protection Loan of $2M through First Bank & Trust, which was approved in February, 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, Orthopedic Institute PC's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 209 jobs retained, this equals an estimated average yearly compensation of $45,933 per employee1
Reported PPP Proceed Usage:
On the PPP application, Orthopedic Institute PC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,999
Business Information - Orthopedic Institute PC in Sioux Falls, SD
810 E 23rd St
Sioux Falls, SD 57105
Business Industry:
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: N
Rural / Urban: Urban
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as Orthopedic Institute PC.
OI Performance LLC
Sports and Recreation Instruction
Similar Companies near Sioux Falls
In the Sioux Falls area, 19 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 31 employees (compared to this company's 209) and received an average PPP loan of $393,597 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Midwestern Endocrinology
Sioux Falls, SD
Wynkoop Orthopedics LLC
Sioux Falls, SD
In Focus Eyecare
Sioux Falls, SD
B. Neal MD PLLC
Sioux Falls, SD
Clear Sky Cleaning
Sioux Falls, SD
Lazaderm Skincare Centre PC
Sioux Falls, SD
Surgical Institute Of South Dakota, PC
Sioux Falls, SD
Davis Independent Obgyn Care
Sioux Falls, SD
Skylar Tople
Sioux Falls, SD
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, 95% lower than Orthopedic Institute PC's reported 209 employees, and received an average PPP loan of $119,313, 94% lower than this company's loan of $2M.
Orthopedic Institute, PC
Entity: Subchapter S Corporation
Industry: Offices of Physicians (except Mental Health Specialists)
Location: Sioux Falls, SD
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Orthopedic Institute, PC is a subchapter s corporation located at 810 E 23rd St in Sioux Falls, South Dakota that received a Coronavirus-related PPP loan from the SBA of $3,451,100.00 in April, 2020.
$
PPP Loan Information
Loan #1573817101
Loan Size:
Jobs Retained:
208Loan Approved:
2020-04-10Loan Status:
Paid in Full or ForgivenLender:
First Bank & TrustOrthopedic Institute, PC in Sioux Falls, SD received a Paycheck Protection Loan of $3.45M through First Bank & Trust, 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 July, 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, Orthopedic Institute, PC's 2019 payroll expenses are estimated to be at least $16.57M.
Based on their reported 208 jobs retained, this equals an estimated average yearly compensation of $79,641 per employee1
Reported PPP Proceed Usage:
On the PPP application, Orthopedic Institute, PC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,451,100
Business Information - Orthopedic Institute, PC in Sioux Falls, SD
810 E 23rd St
Sioux Falls, SD 57105
Business Industry:
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: N
Rural / Urban: Urban
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as Orthopedic Institute, PC.
OI Performance LLC
Sports and Recreation Instruction
Similar Companies near Sioux Falls
In the Sioux Falls area, 19 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 31 employees (compared to this company's 208) and received an average PPP loan of $393,597 (compared to this company's $3.45M).
Similar Nearby Businesses Who Received PPP Funding:
Midwestern Endocrinology
Sioux Falls, SD
Wynkoop Orthopedics LLC
Sioux Falls, SD
In Focus Eyecare
Sioux Falls, SD
B. Neal MD PLLC
Sioux Falls, SD
Clear Sky Cleaning
Sioux Falls, SD
Lazaderm Skincare Centre PC
Sioux Falls, SD
Surgical Institute Of South Dakota, PC
Sioux Falls, SD
Davis Independent Obgyn Care
Sioux Falls, SD
Skylar Tople
Sioux Falls, SD
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, 95% lower than Orthopedic Institute, PC's reported 208 employees, and received an average PPP loan of $119,313, 97% lower than this company's loan of $3.45M.
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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