PPP Loan Data — Suchey Chiropractic, PLLC, Gaylord, MI
Suchey Chiropractic, PLLC is a limited liability company (LLC) located at 3717 Nowak Rd in Gaylord, Michigan that received a Coronavirus-related PPP loan from the SBA of $25,380.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least four people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:The Huntington National Bank
Suchey Chiropractic, PLLC in Gaylord, MI received a Paycheck Protection Loan of $25,380 through The Huntington National 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 April, 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, Suchey Chiropractic, PLLC's 2019 payroll expenses are estimated to be at least $121,824.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,456 per employee1
Reported PPP Proceed Usage:
On the PPP application, Suchey Chiropractic, PLLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,380
Business Information - Suchey Chiropractic, PLLC in Gaylord, MI
3717 Nowak Rd
Gaylord, MI 49735
Offices of Chiropractors
NAICS code 621310
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Gaylord
In the Gaylord area, 9 businesses in the "Offices of Chiropractors" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 4) and received an average PPP loan of $36,787 (compared to this company's $25,380).
Similar Nearby Businesses Who Received PPP Funding:
Health Zone Chiropractic
Healthzone Chiropractic PC
Saks Wellness Center PC
Arkfeld Advanced Chiropractic, PLLC
Cousineau Chiropractic Center PLLC
Alpine Chiropractic PC
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, the same amount reported by Suchey Chiropractic, PLLC and received an average PPP loan of $30,923, 22% higher than this company's loan of $25,380.
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Footnotes & Information
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