PPP Loan Data — Reef Medical Group LLC, Alpine, UT
Reef Medical Group LLC is a limited liability company (LLC) located at 160 W Canyon Crest Rd in Alpine, Utah that received a Coronavirus-related PPP loan from the SBA of $46,015.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least four people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:KeyBank National Association
Reef Medical Group LLC in Alpine, UT received a Paycheck Protection Loan of $46,015 through KeyBank 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 February, 2021.
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, Reef Medical Group LLC's 2019 payroll expenses are estimated to be at least $220,872.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $55,218 per employee1
Reported PPP Proceed Usage:
On the PPP application, Reef Medical Group LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,015
Business Information - Reef Medical Group LLC in Alpine, UT
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
PPP recipients in this industry report an average of 0 employees, 100% lower than Reef Medical Group LLC's reported 4 employees, and received an average PPP loan of $0, 100% lower than this company's loan of $46,015.
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Footnotes & Information
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