PPP Loan Data — Pinakin G Bhakta MD, PC, Glendale, AZ
Pinakin G Bhakta MD, PC
Entity: Professional Association
Location: Glendale, AZTweet This • Search All PPP Data
Pinakin G Bhakta MD, PC is a professional association located at 12481 N 57th Dr in Glendale, Arizona that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Pinakin G Bhakta MD, PC in Glendale, AZ received a Paycheck Protection Loan of $25,000 through Bank of America, National Association, which was approved in May, 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 April, 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, Pinakin G Bhakta MD, PC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Pinakin G Bhakta MD, PC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Pinakin G Bhakta MD, PC in Glendale, AZ
12481 N 57th Dr
Glendale, AZ 85304
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Glendale
In the Glendale area, 11 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 3) and received an average PPP loan of $161,446 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Glendale Obstetrics And Gynecology PC
Holland Center Plc
Plotter Doctors, LLC
Nidia Janeth Ruiz Hernandez
Westside Anesthesia Services, Plc
Desert West Obstetrics & Gynecology, LTD
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, 267% higher than Pinakin G Bhakta MD, PC's reported 3 employees, and received an average PPP loan of $119,087, 376% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!