PPP Loan Data — Regional Medical Imaging, Flint, MI
Regional Medical Imaging is a corporation located at 3346 Lennon Rd in Flint, Michigan that received a Coronavirus-related PPP loan from the SBA of $2,311,209.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Regional Medical Imaging in Flint, MI received a Paycheck Protection Loan of $2.31M through Oxford 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, Regional Medical Imaging's 2019 payroll expenses are estimated to be at least $11.09M.
Based on their reported 203 jobs retained, this equals an estimated average yearly compensation of $54,649 per employee1
Reported PPP Proceed Usage:
On the PPP application, Regional Medical Imaging reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,311,209
Business Information - Regional Medical Imaging in Flint, MI
3346 Lennon Rd
Flint, MI 48507
Diagnostic Imaging Centers
NAICS code 621512
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Flint
In the Flint area, 2 businesses in the "Diagnostic Imaging Centers" industry received a PPP loan. These local businesses reported an average of 115 employees (compared to this company's 203) and received an average PPP loan of $1,270,155 (compared to this company's $2.31M).
Similar Nearby Businesses Who Received PPP Funding:
Greater Flint Imaging Center, LLC
Industry PPP Comparison Statistics
Nationwide, 3,228 businesses in the "Diagnostic Imaging Centers" industry received a total of $543.6M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 14 employees, 93% lower than Regional Medical Imaging's reported 203 employees, and received an average PPP loan of $168,402, 93% lower than this company's loan of $2.31M.
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Footnotes & Information
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