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PPP Loan Data — Saratoga Medical Center Inc,
Fairfax, VA
Saratoga Medical Center Inc
Entity: Corporation
Industry: Offices of Physicians (except Mental Health Specialists)
Location: Fairfax, VA
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Saratoga Medical Center Inc is a corporation located at Suite D103 Suite D103 in Fairfax, Virginia that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.
$
PPP Loan Information
Loan #3123158505
Loan Size:
Jobs Retained:
200Loan Approved:
2021-02-23Loan Status:
Ongoing LoanLender:
PNC Bank, National AssociationSaratoga Medical Center Inc in Fairfax, VA received a Paycheck Protection Loan of $2M through PNC Bank, National Association, which was approved in February, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Saratoga Medical Center Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 200 jobs retained, this equals an estimated average yearly compensation of $48,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Saratoga Medical Center Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,998
- Utilities: $1
Business Information - Saratoga Medical Center Inc in Fairfax, VA
Suite D103 Suite D103
Fairfax, VA 22030
Business Industry:
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Fairfax
In the Fairfax area, 158 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 200) and received an average PPP loan of $238,667 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Medacute Care LLC
Fairfax, VA
Integrated Dermatology Of Fairfax LLC
Fairfax, VA
Ammicus Healthcare LLC
Fairfax, VA
JAN J. Dekker, MD, LLC
Fairfax, VA
Centralcare Inc
Fairfax, VA
Virginia Heart And Vascular Institute,
Fairfax, VA
Metropolitan Maternal-Fetal Medicine, PC
Fairfax, VA
Virginia Nephrology Group, LLP
Fairfax, VA
Industry PPP Comparison Statistics
Nationwide, 176,427 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a total of $21.05B 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 Saratoga Medical Center Inc's reported 200 employees, and received an average PPP loan of $119,313, 94% lower than this company's loan of $2M.
Saratoga Medical Center Inc
Entity: Corporation
Industry: Offices of Physicians (except Mental Health Specialists)
Location: Fairfax, VA
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•
Search All PPP Data
Saratoga Medical Center Inc is a corporation located at 11094 Lee Highway Suite 103 in Fairfax, Virginia that received a Coronavirus-related PPP loan from the SBA of $2,873,200.00 in April, 2020.
$
PPP Loan Information
Loan #3986637201
Loan Size:
Jobs Retained:
378Loan Approved:
2020-04-27Loan Status:
Ongoing LoanLender:
PNC Bank, National AssociationSaratoga Medical Center Inc in Fairfax, VA received a Paycheck Protection Loan of $2.87M through PNC Bank, National Association, which was approved in April, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Saratoga Medical Center Inc's 2019 payroll expenses are estimated to be at least $13.79M.
Based on their reported 378 jobs retained, this equals an estimated average yearly compensation of $36,485 per employee1
Reported PPP Proceed Usage:
On the PPP application, Saratoga Medical Center Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,873,200
Business Information - Saratoga Medical Center Inc in Fairfax, VA
11094 Lee Highway Suite 103
Fairfax, VA 22030
Business Industry:
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age:
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Fairfax
In the Fairfax area, 158 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 378) and received an average PPP loan of $238,667 (compared to this company's $2.87M).
Similar Nearby Businesses Who Received PPP Funding:
Medacute Care LLC
Fairfax, VA
Integrated Dermatology Of Fairfax LLC
Fairfax, VA
Ammicus Healthcare LLC
Fairfax, VA
JAN J. Dekker, MD, LLC
Fairfax, VA
Centralcare Inc
Fairfax, VA
Virginia Heart And Vascular Institute,
Fairfax, VA
Metropolitan Maternal-Fetal Medicine, PC
Fairfax, VA
Virginia Nephrology Group, LLP
Fairfax, VA
Industry PPP Comparison Statistics
Nationwide, 176,427 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a total of $21.05B 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 Saratoga Medical Center Inc's reported 378 employees, and received an average PPP loan of $119,313, 96% lower than this company's loan of $2.87M.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.
All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
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