PPP Loan Data — Tecumseh Chiropractic Center, Inc, Tecumseh, MI
Tecumseh Chiropractic Center, Inc is a subchapter s corporation located at 402 E. Chicago Blvd in Tecumseh, Michigan that received a Coronavirus-related PPP loan from the SBA of $24,868.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:KeyBank National Association
Tecumseh Chiropractic Center, Inc in Tecumseh, MI received a Paycheck Protection Loan of $24,868 through KeyBank 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, Tecumseh Chiropractic Center, Inc's 2019 payroll expenses are estimated to be at least $119,366.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $23,873 per employee1
Reported PPP Proceed Usage:
On the PPP application, Tecumseh Chiropractic Center, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,868
Business Information - Tecumseh Chiropractic Center, Inc in Tecumseh, MI
402 E. Chicago Blvd
Tecumseh, MI 49286
Offices of Chiropractors
NAICS code 621310
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Tecumseh
In the Tecumseh area, 10 businesses in the "Offices of Chiropractors" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 5) and received an average PPP loan of $25,514 (compared to this company's $24,868).
Similar Nearby Businesses Who Received PPP Funding:
Sean T. Edison PC
Erin Clifton PLLC
Lomonaco Healthcare LLC
New Boston Chiropractic Life Center Corporation
Positively Chiropractic LLC
Boulevard Chiropractic PLLC
New Boston Chiropractic Life Center, Inc
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 Tecumseh Chiropractic Center, Inc's reported 5 employees, and received an average PPP loan of $30,923, 24% higher than this company's loan of $24,868.
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