PPP Loan Data — Ravi Patel MD., Inc, Bakersfield, CA
Ravi Patel MD., Inc
Entity: Subchapter S Corporation
Location: Bakersfield, CATweet This • Search All PPP Data
Ravi Patel MD., Inc is a subchapter s corporation located at 6501 Truxtun Avenue in Bakersfield, California that received a Coronavirus-related PPP loan from the SBA of $2,426,861.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 205 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Valley Republic Bank
Ravi Patel MD., Inc in Bakersfield, CA received a Paycheck Protection Loan of $2.43M through Valley Republic Bank, 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, Ravi Patel MD., Inc's 2019 payroll expenses are estimated to be at least $11.65M.
Based on their reported 205 jobs retained, this equals an estimated average yearly compensation of $56,824 per employee1
Reported PPP Proceed Usage:
On the PPP application, Ravi Patel MD., Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,426,861
Business Information - Ravi Patel MD., Inc in Bakersfield, CA
6501 Truxtun Avenue
Bakersfield, CA 93309
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Bakersfield
In the Bakersfield area, 69 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 205) and received an average PPP loan of $150,579 (compared to this company's $2.43M).
Similar Nearby Businesses Who Received PPP Funding:
Bakersfield Eye Institute Inc
Children To Love International
Premier Valley Medical Group, Inc
Josue Fong Balart
Synergy Wellness Group Inc
PIO Kiwanuka Kiggundu
Sillect Orthopedic Group
Integrated Practice Managment
Golden Valley Medical Associates, Inc
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, 95% lower than Ravi Patel MD., Inc's reported 205 employees, and received an average PPP loan of $119,087, 95% lower than this company's loan of $2.43M.
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