PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Surafeal Abraha MD PC, Cary, NC

ALERT: There are 2 PPP loans for a total of $55,620 in our database for businesses with the name "Surafeal Abraha MD PC" in Cary, NC. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Surafeal Abraha MD PC
NC

Surafeal Abraha MD PC

Entity: Subchapter S Corporation

Industry: Offices of Physicians (except Mental Health Specialists)

Location: Cary, NC

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Surafeal Abraha MD PC is a subchapter s corporation located at 5028 Myrtle Oak Dr in Cary, North Carolina that received a Coronavirus-related PPP loan from the SBA of $30,400.00 in February, 2021.

$ PPP Loan Information
Loan #2661208510

Loan Size:

$30,400

Jobs Retained:

2

Loan Approved:

2021-02-22

Loan Status:

Ongoing Loan

Lender:

Cross River Bank

Surafeal Abraha MD PC in Cary, NC received a Paycheck Protection Loan of $30,400 through Cross River Bank, which was approved in February, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Surafeal Abraha MD PC's 2019 payroll expenses are estimated to be at least $145,920.

Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $72,960 per employee1

Reported PPP Proceed Usage:

On the PPP application, Surafeal Abraha MD PC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $30,399
  • Utilities: $1

Business Information - Surafeal Abraha MD PC in Cary, NC

Surafeal Abraha MD PC
5028 Myrtle Oak Dr
Cary, NC 27519

Business Industry:
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Wake County, NC — SBA Office 0460 — Congressional District: NC-02

Similar Companies near Cary

In the Cary area, 81 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 2) and received an average PPP loan of $137,341 (compared to this company's $30,400).

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, 450% higher than Surafeal Abraha MD PC's reported 2 employees, and received an average PPP loan of $119,087, 292% higher than this company's loan of $30,400.

SBA PPP loan data, payroll data, and salaries for Surafeal Abraha MD PC
NC

Surafeal Abraha MD PC

Entity: Subchapter S Corporation

Industry: Direct Health and Medical Insurance Carriers

Location: Cary, NC

Search All PPP Data

Surafeal Abraha MD PC is a subchapter s corporation located at 5028 Myrtle Oak Dr in Cary, North Carolina that received a Coronavirus-related PPP loan from the SBA of $25,220.00 in May, 2020.

$ PPP Loan Information
Loan #8292507402

Loan Size:

$25,220

Jobs Retained:

2

Loan Approved:

2020-05-18

Loan Status:

Paid in Full or Forgiven

Lender:

Quontic Bank

Surafeal Abraha MD PC in Cary, NC received a Paycheck Protection Loan of $25,220 through Quontic Bank, which was approved in May, 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

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Surafeal Abraha MD PC's 2019 payroll expenses are estimated to be at least $121,056.

Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,528 per employee1

Reported PPP Proceed Usage:

On the PPP application, Surafeal Abraha MD PC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $25,220

Business Information - Surafeal Abraha MD PC in Cary, NC

Surafeal Abraha MD PC
5028 Myrtle Oak Dr
Cary, NC 27519

Business Industry:
Direct Health and Medical Insurance Carriers
NAICS code 524114

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age:

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Wake County, NC — SBA Office 0460 — Congressional District: NC-02

Similar Companies near Cary

In the Cary area, 2 businesses in the "Direct Health and Medical Insurance Carriers" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 2) and received an average PPP loan of $27,610 (compared to this company's $25,220).

Similar Nearby Businesses Who Received PPP Funding:

Sound Source Imaging, Inc
Cary, NC

$30,000 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 4,454 businesses in the "Direct Health and Medical Insurance Carriers" industry received a total of $262.47M 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 7 employees, 250% higher than Surafeal Abraha MD PC's reported 2 employees, and received an average PPP loan of $58,930, 134% higher than this company's loan of $25,220.

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.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/surafeal-abraha-md-pc-cary-nc