PPP Loan Data — Raleigh Medical Group, PA, Raleigh, NC
Raleigh Medical Group, PA
Entity: Professional Association
Location: Raleigh, NCTweet This • Search All PPP Data
Raleigh Medical Group, PA is a professional association located at 3521 Haworth Drive in Raleigh, North Carolina that received a Coronavirus-related PPP loan from the SBA of $3,336,500.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First-Citizens Bank & Trust Company
Raleigh Medical Group, PA in Raleigh, NC received a Paycheck Protection Loan of $3.34M through First-Citizens Bank & Trust Company, 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, Raleigh Medical Group, PA's 2019 payroll expenses are estimated to be at least $16.02M.
Based on their reported 324 jobs retained, this equals an estimated average yearly compensation of $49,430 per employee1
Reported PPP Proceed Usage:
On the PPP application, Raleigh Medical Group, PA reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,336,500
Business Information - Raleigh Medical Group, PA in Raleigh, NC
3521 Haworth Drive
Raleigh, NC 27609
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Raleigh
In the Raleigh area, 69 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 24 employees (compared to this company's 324) and received an average PPP loan of $252,525 (compared to this company's $3.34M).
Similar Nearby Businesses Who Received PPP Funding:
Family Medical Associates Of Raleigh PA
Senthil N Sundaram MD
Raleigh Associated Medical Specialists Inc
Raleigh Associated Medical Specialists
North Raleigh Gastroenterology PA
James D Crowther, MD., PA
The Bone And Joint Surgery Clinic, Rllp
Jones Ortho Holdings LLC
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, 97% lower than Raleigh Medical Group, PA's reported 324 employees, and received an average PPP loan of $119,087, 96% lower than this company's loan of $3.34M.
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Footnotes & Information
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