PPP Loan Data — Treace Medical Concepts Inc, Ponte Vedra, FL
Treace Medical Concepts Inc is a corporation located at 203 Fort Wade Road Suite 150 in Ponte Vedra, Florida that received a Coronavirus-related PPP loan from the SBA of $1,787,880.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Silicon Valley Bank
Treace Medical Concepts Inc in Ponte Vedra, FL received a Paycheck Protection Loan of $1.79M through Silicon Valley 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, Treace Medical Concepts Inc's 2019 payroll expenses are estimated to be at least $8.58M.
Based on their reported 96 jobs retained, this equals an estimated average yearly compensation of $89,394 per employee1
Reported PPP Proceed Usage:
On the PPP application, Treace Medical Concepts Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,787,880
Business Information - Treace Medical Concepts Inc in Ponte Vedra, FL
203 Fort Wade Road Suite 150
Ponte Vedra, FL 32081
Surgical Appliance and Supplies Manufacturing
NAICS code 339113
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Ponte Vedra
In the Ponte Vedra area, 3 businesses in the "Surgical Appliance and Supplies Manufacturing" industry received a PPP loan. These local businesses reported an average of 36 employees (compared to this company's 96) and received an average PPP loan of $658,417 (compared to this company's $1.79M).
Similar Nearby Businesses Who Received PPP Funding:
Reddress USA, Inc
Ponte Vedra Beach, FL
Ponte Vedra, FL
Industry PPP Comparison Statistics
Nationwide, 2,533 businesses in the "Surgical Appliance and Supplies Manufacturing" industry received a total of $392.65M 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 14 employees, 85% lower than Treace Medical Concepts Inc's reported 96 employees, and received an average PPP loan of $155,013, 91% lower than this company's loan of $1.79M.
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Footnotes & Information
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