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PPP Loan Data — Raleigh Durham Medical Group PA,
Raleigh, NC
Raleigh Durham Medical Group PA
Entity: Subchapter S Corporation
Industry: Offices of Physicians (except Mental Health Specialists)
Location: Raleigh, NC
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Raleigh Durham Medical Group PA is a subchapter s corporation located at 160 Mine Lake Ct Ste 200 in Raleigh, North Carolina that received a Coronavirus-related PPP loan from the SBA of $2,666,100.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
246Loan Approved:
2020-04-28Lender:
FIRST-CITIZENS BANK & TRUST COMPANYRaleigh Durham Medical Group PA in Raleigh, NC received a Paycheck Protection Loan of $2.67M through FIRST-CITIZENS BANK & TRUST COMPANY, which was approved in April, 2020.
Based on standard PPP eligibility rules, Raleigh Durham Medical Group PA's total 2019 payroll expenses were approximately $12.8M in order to qualify for the PPP loan amount received.
Based on their reported 246 jobs retained, this equals an estimated average yearly compensation of $52,021 per employee1.
Business Information - Raleigh Durham Medical Group PA in Raleigh, NC
160 Mine Lake Ct Ste 200
Raleigh, NC 27615
Business Industry
Offices of Physicians (except Mental Health Specialists) (NAICS code 621111)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: NC-02Similar Companies near Raleigh
In the Raleigh area, 45 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 18 employees (compared to this company's 246) and received an average PPP loan of $222,457 (compared to this company's $2.67M).
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Industry PPP Comparison Statistics
Nationwide, 114,302 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a total of $15,789,256,580.00 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 10 employees, 96% lower than Raleigh Durham Medical Group PA's reported 246 employees, and received an average PPP loan of $138,136, 95% lower than this company's loan of $2.67M.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan. All information displayed on this page is publicly available information under PPP loan guidelines, and is published unmodified, as provided by the SBA.
Footnotes & Information
1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
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