PPP Loan Data — Pham Medical Associates PC Pham Medical Associates, Cambridge, MA
Pham Medical Associates PC Pham Medical Associates
Entity: Subchapter S Corporation
Location: Cambridge, MATweet This • Search All PPP Data
Pham Medical Associates PC Pham Medical Associates is a subchapter s corporation located at 16 Russell St in Cambridge, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $46,300.00 in January, 2021.
The company has reported itself as an Asian male veteran owned business, and employed at least seven people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Citizens Bank, National Association
Pham Medical Associates PC Pham Medical Associates in Cambridge, MA received a Paycheck Protection Loan of $46,300 through Citizens Bank, National Association, which was approved in January, 2021.
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, Pham Medical Associates PC Pham Medical Associates' 2019 payroll expenses are estimated to be at least $222,240.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $31,749 per employee1
Reported PPP Proceed Usage:
On the PPP application, Pham Medical Associates PC Pham Medical Associates reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,298
- Utilities: $1
Business Information - Pham Medical Associates PC Pham Medical Associates in Cambridge, MA
16 Russell St
Cambridge, MA 2140
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111
Business Owner Demographics
Gender: Male Owned
Veteran Status: Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Cambridge
In the Cambridge area, 7 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 7) and received an average PPP loan of $156,950 (compared to this company's $46,300).
Similar Nearby Businesses Who Received PPP Funding:
DR. Alison Rhodes
Stephen C Buck
Joseph Glenmullen, MD
Serena Group, Inc
Pham Medical Associates PC
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, 57% higher than Pham Medical Associates PC Pham Medical Associates' reported 7 employees, and received an average PPP loan of $119,087, 157% higher than this company's loan of $46,300.
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