PPP Loan Data — Southdale Pediatric Associates, LTD, Minneapolis, MN
Southdale Pediatric Associates, LTD
Entity: Limited Liability Company (LLC)
Location: Minneapolis, MNTweet This • Search All PPP Data
Southdale Pediatric Associates, LTD is a limited liability company (LLC) located at 3955 Parklawn Ave in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $2,055,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Southdale Pediatric Associates, LTD in Minneapolis, MN received a Paycheck Protection Loan of $2.06M through Fidelity Bank, 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 June, 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, Southdale Pediatric Associates, LTD's 2019 payroll expenses are estimated to be at least $9.86M.
Based on their reported 193 jobs retained, this equals an estimated average yearly compensation of $51,109 per employee1
Reported PPP Proceed Usage:
On the PPP application, Southdale Pediatric Associates, LTD reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,750,000
- Mortgage Interest: $5,000
- Rent: $300,000
Business Information - Southdale Pediatric Associates, LTD in Minneapolis, MN
3955 Parklawn Ave
Minneapolis, MN 55435
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Minneapolis
In the Minneapolis area, 68 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 193) and received an average PPP loan of $253,216 (compared to this company's $2.06M).
Similar Nearby Businesses Who Received PPP Funding:
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Silverman Orthopaedics, PC
Prischmann Facial Plastic Surgery PLLC
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Industry PPP Comparison Statistics
Nationwide, 176,926 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a total of $21.07B 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, 94% lower than Southdale Pediatric Associates, LTD's reported 193 employees, and received an average PPP loan of $119,087, 94% lower than this company's loan of $2.06M.
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