PPP Loan Data — Pinnacle Medical Group Inc, Redlands, CA
Pinnacle Medical Group Inc
Location: Redlands, CATweet This • Search All PPP Data
Pinnacle Medical Group Inc is a corporation located at 1615 Orange Tree Ln in Redlands, California that received a Coronavirus-related PPP loan from the SBA of $2,075,255.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Pinnacle Medical Group Inc in Redlands, CA received a Paycheck Protection Loan of $2.08M through Bank of America, National Association, which was approved in May, 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, Pinnacle Medical Group Inc's 2019 payroll expenses are estimated to be at least $9.96M.
Based on their reported 225 jobs retained, this equals an estimated average yearly compensation of $44,272 per employee1
Reported PPP Proceed Usage:
On the PPP application, Pinnacle Medical Group Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,075,255
Business Information - Pinnacle Medical Group Inc in Redlands, CA
1615 Orange Tree Ln
Redlands, CA 92374
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Redlands
In the Redlands area, 72 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 225) and received an average PPP loan of $205,293 (compared to this company's $2.08M).
Similar Nearby Businesses Who Received PPP Funding:
Salina Safaei DDS
Inland Women's Care Associates, Inc
Rebecca Ballinger Psyd
MA. Hanson & Son Inc
George Cheng MD Inc
JWR Wellness Clinics Inc
Jordan Neuroscience, Inc
Fred F Soeprono MD Inc
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, 95% lower than Pinnacle Medical Group Inc's reported 225 employees, and received an average PPP loan of $119,087, 94% lower than this company's loan of $2.08M.
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Footnotes & Information
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