PPP Loan Data — Ramapo Anesthesiologists PC, Suffern, NY
Ramapo Anesthesiologists PC
Location: Suffern, NYTweet This • Search All PPP Data
Ramapo Anesthesiologists PC is a corporation located at 100 Route 59 Suite 111 in Suffern, New York that received a Coronavirus-related PPP loan from the SBA of $1,583,615.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:JPMorgan Chase Bank, National Association
Ramapo Anesthesiologists PC in Suffern, NY received a Paycheck Protection Loan of $1.58M through JPMorgan Chase 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 June, 2021.The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 50 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 76. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Ramapo Anesthesiologists PC's 2019 payroll expenses are estimated to be at least $7.6M (not accounting for salary amounts > $100k).
Because the 50 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Ramapo Anesthesiologists PC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,435,615
- Utilities: $7,000
- Rent: $33,500
- Health Care: $83,500
- Debt Interest: $24,000
Business Information - Ramapo Anesthesiologists PC in Suffern, NY
100 Route 59 Suite 111
Suffern, NY 10901
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: Urban
Similar Companies near Suffern
In the Suffern area, 38 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 50) and received an average PPP loan of $128,848 (compared to this company's $1.58M).
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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, 78% lower than Ramapo Anesthesiologists PC's reported 50 employees, and received an average PPP loan of $119,087, 92% lower than this company's loan of $1.58M.
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Footnotes & Information
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