PPP Loan Data — Tri State Orthopaedics And Sports Medicine, Inc, Pittsburgh, PA
Tri State Orthopaedics And Sports Medicine, Inc
Location: Pittsburgh, PATweet This • Search All PPP Data
Tri State Orthopaedics And Sports Medicine, Inc is a corporation located at 5900 Corporate Drive, Ste 200 in Pittsburgh, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $1,654,600.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:PNC Bank, National Association
Tri State Orthopaedics And Sports Medicine, Inc in Pittsburgh, PA received a Paycheck Protection Loan of $1.65M through PNC Bank, National Association, 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 June, 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, Tri State Orthopaedics And Sports Medicine, Inc's 2019 payroll expenses are estimated to be at least $7.94M.
Based on their reported 131 jobs retained, this equals an estimated average yearly compensation of $60,627 per employee1
Reported PPP Proceed Usage:
On the PPP application, Tri State Orthopaedics And Sports Medicine, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,654,600
Business Information - Tri State Orthopaedics And Sports Medicine, Inc in Pittsburgh, PA
5900 Corporate Drive, Ste 200
Pittsburgh, PA 15237
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Pittsburgh
In the Pittsburgh area, 63 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 131) and received an average PPP loan of $157,149 (compared to this company's $1.65M).
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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, 92% lower than Tri State Orthopaedics And Sports Medicine, Inc's reported 131 employees, and received an average PPP loan of $119,087, 93% lower than this company's loan of $1.65M.
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