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PPP Loan Data — South Shore Neurologic Assoicates, Islip, NY

SBA PPP loan data, payroll data, and salaries for South Shore Neurologic Assoicates
NY

South Shore Neurologic Assoicates

Entity: Subchapter S Corporation

Industry: Offices of Physicians (except Mental Health Specialists)

Location: Islip, NY

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South Shore Neurologic Assoicates is a subchapter s corporation located at 712 Main Street in Islip, New York that received a Coronavirus-related PPP loan from the SBA of $2,590,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.59M

Jobs Retained:

233

Loan Approved:

2020-04-14

Lender:

HSBC BANK USA, NATIONAL ASSOCIATION

South Shore Neurologic Assoicates in Islip, NY received a Paycheck Protection Loan of $2.59M through HSBC BANK USA, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, South Shore Neurologic Assoicates' total 2019 payroll expenses were approximately $12.43M in order to qualify for the PPP loan amount received.

Based on their reported 233 jobs retained, this equals an estimated average yearly compensation of $53,356 per employee1.

Because the loan received by South Shore Neurologic Assoicates is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - South Shore Neurologic Assoicates in Islip, NY

South Shore Neurologic Assoicates
712 Main Street
Islip, NY 11751

Business Industry

Offices of Physicians (except Mental Health Specialists) (NAICS code 621111)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NY-02

Similar Companies near Islip

In the Islip area, 9 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 31 employees (compared to this company's 233) and received an average PPP loan of $333,581 (compared to this company's $2.59M).

Industry PPP Comparison Statistics

Nationwide, 114,302 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a total of $15,789,256,580.00 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 10 employees, 96% lower than South Shore Neurologic Assoicates' reported 233 employees, and received an average PPP loan of $138,136, 95% lower than this company's loan of $2.59M.

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, and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/south-shore-neurologic-assoicates-islip-ny