PPP Loan Data — Priority Medical Management, Inc, Gallatin, TN
Priority Medical Management, Inc
Location: Gallatin, TNTweet This • Search All PPP Data
Priority Medical Management, Inc is a corporation located at 106 Public Sq in Gallatin, Tennessee that received a Coronavirus-related PPP loan from the SBA of $25,355.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least four people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Priority Medical Management, Inc in Gallatin, TN received a Paycheck Protection Loan of $25,355 through Pinnacle Bank, 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 February, 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, Priority Medical Management, Inc's 2019 payroll expenses are estimated to be at least $121,704.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,426 per employee1
Reported PPP Proceed Usage:
On the PPP application, Priority Medical Management, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,355
Business Information - Priority Medical Management, Inc in Gallatin, TN
106 Public Sq
Gallatin, TN 37066
All Other Professional, Scientific, and Technical Services
NAICS code 541990
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: Y
Rural / Urban: Urban
Similar Companies near Gallatin
In the Gallatin area, 64 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 4) and received an average PPP loan of $69,536 (compared to this company's $25,355).
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Industry PPP Comparison Statistics
Nationwide, 129,763 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a total of $7.41B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 5 employees, 25% higher than Priority Medical Management, Inc's reported 4 employees, and received an average PPP loan of $57,091, 125% higher than this company's loan of $25,355.
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