PPP Loan Data — Southern Physical Associates, Inc., Richmond, VA
Southern Physical Associates, Inc.
Location: Richmond, VATweet This • Search All PPP Data
Southern Physical Associates, Inc. is a corporation located at 5922 Broad St in Richmond, Virginia that received a Coronavirus-related PPP loan from the SBA of $136,100.00 in April, 2020.
$ PPP Loan Information
Lender:MID PENN BANK
Southern Physical Associates, Inc. received a Paycheck Protection Loan of $136,100 through MID PENN BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Southern Physical Associates, Inc.'s total 2019 payroll expenses were approximately $653,280 in order to qualify for the PPP loan amount received.
Based on their reported 13 jobs retained, this equals an estimated average yearly compensation of $50,252 per employee1.
Business Information - Southern Physical Associates, Inc. in Richmond, VA
5922 Broad St
Richmond, VA 23230
Offices of Physicians (except Mental Health Specialists) (NAICS code 621111)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: VA-07
Similar Companies near Richmond
In the Richmond area, 10 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 22 employees (compared to this company's 13) and received an average PPP loan of $566,660 (compared to this company's $136,100).
Similar Nearby Businesses Who Received PPP Funding:
Monument Avenue Pediatrics PC
Commonwealth Dermatology, PC
Benjamin Seeman, DO, LLC
Gastrointestinal Specialists, Inc.
Laser & Skin Surgery Center Of Richmond PC
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, 23% lower than Southern Physical Associates, Inc.'s reported 13 employees, and received an average PPP loan of $138,136, 1% higher than this company's loan of $136,100.
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. 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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