PPP Loan Data — Stephen R Simpson MD LLC, Lafayette, LA
Stephen R Simpson MD LLC
Entity: Limited Liability Company (LLC)
Location: Lafayette, LATweet This • Search All PPP Data
Stephen R Simpson MD LLC is a limited liability company (LLC) located in Lafayette, Louisiana that received a Coronavirus-related PPP loan from the SBA of $25,116.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Horizon Bank
Stephen R Simpson MD LLC in Lafayette, LA received a Paycheck Protection Loan of $25,116 through First Horizon Bank, which was approved in May, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
Reported PPP Proceed Usage:
On the PPP application, Stephen R Simpson MD LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,116
Business Information - Stephen R Simpson MD LLC in Lafayette, LA
* Full address is redacted to protect the privacy of individuals.
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 Lafayette
In the Lafayette area, 137 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 1) and received an average PPP loan of $80,952 (compared to this company's $25,116).
Similar Nearby Businesses Who Received PPP Funding:
Anthony Blalock, MD. A Professional Medical Corporation 2X
Louisiana Cardiovascular & Limb Salvage Center, Apmc
Charlie Internal Medicine Group Inc
Jennifer Kent Malin MD LLC
L Lazaro IV Apmc
Charles E Padgett MD
Henry J. Carter OD. (A Professional Corporation)
Donald Moses MD A Prof Medical LLC
Scott T Gauthreaux MD Apmc
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, 1000% higher than Stephen R Simpson MD LLC's reported 1 employees, and received an average PPP loan of $119,087, 374% higher than this company's loan of $25,116.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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