PPP Loan Data — Rakesh Kumar MD PC, Eatonton, GA
Rakesh Kumar MD PC
Location: Eatonton, GATweet This • Search All PPP Data
Rakesh Kumar MD PC is a corporation located at 123 Sparta Hwy in Eatonton, Georgia that received a Coronavirus-related PPP loan from the SBA of $46,200.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:LendingClub Bank, National Association
Rakesh Kumar MD PC in Eatonton, GA received a Paycheck Protection Loan of $46,200 through LendingClub Bank, National Association, 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 December, 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, Rakesh Kumar MD PC's 2019 payroll expenses are estimated to be at least $221,760.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $31,680 per employee1
Reported PPP Proceed Usage:
On the PPP application, Rakesh Kumar MD PC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,200
Business Information - Rakesh Kumar MD PC in Eatonton, GA
123 Sparta Hwy
Eatonton, GA 31024
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: Rural
Similar Companies near Eatonton
In the Eatonton area, 16 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 7) and received an average PPP loan of $65,144 (compared to this company's $46,200).
Similar Nearby Businesses Who Received PPP Funding:
Dixie Medical LLC
Habigaile Cribe MD LLC
Ajay Jumar MD LLC
Donald Anthony Selph, Jr., MD.,PC
Eatonton Pediatrics, PC
Cardiology Care Clinic, LLC
Eddie Richardson Jr MD PC
M Todd Peacock, MD. 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 Rakesh Kumar MD PC's reported 7 employees, and received an average PPP loan of $119,087, 158% higher than this company's loan of $46,200.
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