PPP Loan Data — The Institute For Reproductive Medicine, Livingston, NJ
The Institute For Reproductive Medicine
Location: Livingston, NJTweet This • Search All PPP Data
The Institute For Reproductive Medicine is a corporation located at 94 Old Short Hills Rd St. Barnabas Hosp Ew 403 in Livingston, New Jersey that received a Coronavirus-related PPP loan from the SBA of $1,579,029.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Wells Fargo Bank, National Association
The Institute For Reproductive Medicine in Livingston, NJ received a Paycheck Protection Loan of $1.58M through Wells Fargo Bank, National Association, which was approved in May, 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, The Institute For Reproductive Medicine's 2019 payroll expenses are estimated to be at least $7.58M.
Based on their reported 108 jobs retained, this equals an estimated average yearly compensation of $70,179 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Institute For Reproductive Medicine reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,579,029
Business Information - The Institute For Reproductive Medicine in Livingston, NJ
94 Old Short Hills Rd St. Barnabas Hosp Ew 403
Livingston, NJ 7039
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 Livingston
In the Livingston area, 91 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 108) and received an average PPP loan of $137,698 (compared to this company's $1.58M).
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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, 90% lower than The Institute For Reproductive Medicine's reported 108 employees, and received an average PPP loan of $119,087, 92% lower than this company's loan of $1.58M.
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