PPP Loan Data — Soderling Eye Care, PSC, Greenville, KY
Soderling Eye Care, PSC is a corporation located at 136 E Main Cross St in Greenville, Kentucky that received a Coronavirus-related PPP loan from the SBA of $46,151.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Farmers Bank & Trust Company
Soderling Eye Care, PSC in Greenville, KY received a Paycheck Protection Loan of $46,151 through Farmers Bank & Trust Company, 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 November, 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, Soderling Eye Care, PSC's 2019 payroll expenses are estimated to be at least $221,525.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $36,921 per employee1
Reported PPP Proceed Usage:
On the PPP application, Soderling Eye Care, PSC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $34,613
- Utilities: $2,884
- Rent: $8,653
Business Information - Soderling Eye Care, PSC in Greenville, KY
136 E Main Cross St
Greenville, KY 42345
Offices of Optometrists
NAICS code 621320
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Greenville
In the Greenville area, 4 businesses in the "Offices of Optometrists" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 6) and received an average PPP loan of $42,202 (compared to this company's $46,151).
Similar Nearby Businesses Who Received PPP Funding:
DR. Kelly Tarter
Soderling Eye Care
Industry PPP Comparison Statistics
Nationwide, 27,285 businesses in the "Offices of Optometrists" industry received a total of $1.98B 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 8 employees, 33% higher than Soderling Eye Care, PSC's reported 6 employees, and received an average PPP loan of $72,657, 57% higher than this company's loan of $46,151.
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Footnotes & Information
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