PPP Loan Data — Puracath Medical, Inc, Newark, CA
Puracath Medical, Inc is a corporation located at 37600 Central Ct Ste 210 in Newark, California that received a Coronavirus-related PPP loan from the SBA of $25,200.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:TransPecos Banks, SSB.
Puracath Medical, Inc in Newark, CA received a Paycheck Protection Loan of $25,200 through TransPecos Banks, SSB., which was approved in April, 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, Puracath Medical, Inc's 2019 payroll expenses are estimated to be at least $120,960.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,320 per employee1
Reported PPP Proceed Usage:
On the PPP application, Puracath Medical, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,200
Business Information - Puracath Medical, Inc in Newark, CA
37600 Central Ct Ste 210
Newark, CA 94560
Surgical and Medical Instrument Manufacturing
NAICS code 339112
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Newark
In the Newark area, 2 businesses in the "Surgical and Medical Instrument Manufacturing" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 3) and received an average PPP loan of $106,850 (compared to this company's $25,200).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 3,435 businesses in the "Surgical and Medical Instrument Manufacturing" industry received a total of $858.13M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 18 employees, 500% higher than Puracath Medical, Inc's reported 3 employees, and received an average PPP loan of $249,819, 891% higher than this company's loan of $25,200.
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