PPP Loan Data — Spine & Rehab Chiropractic LLC, Philadelphia, PA
Spine & Rehab Chiropractic LLC is a limited liability company (LLC) located at 7953 Ridge Ave in Philadelphia, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Citizens Bank, National Association
Spine & Rehab Chiropractic LLC in Philadelphia, PA received a Paycheck Protection Loan of $25,000 through Citizens Bank, National Association, which was approved in April, 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, Spine & Rehab Chiropractic LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Spine & Rehab Chiropractic LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Spine & Rehab Chiropractic LLC in Philadelphia, PA
7953 Ridge Ave
Philadelphia, PA 19128
Offices of Chiropractors
NAICS code 621310
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Philadelphia
In the Philadelphia area, 5 businesses in the "Offices of Chiropractors" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 5) and received an average PPP loan of $32,467 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Spine And Rehab Chiropractic
Optimum Health Chiropractic
Roberts Family & Sports Chiropractic PC
Heart Strong Chiropractic LLC
Industry PPP Comparison Statistics
Nationwide, 49,175 businesses in the "Offices of Chiropractors" industry received a total of $1.52B 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 4 employees, 20% lower than Spine & Rehab Chiropractic LLC's reported 5 employees, and received an average PPP loan of $30,923, 24% higher than this company's loan of $25,000.
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Footnotes & Information
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