PPP Loan Data — Trumbull Radiology Associates PC, Shelton, CT
Trumbull Radiology Associates PC is a subchapter s corporation located at 3 Enterprise Drive Suite 220 0.0 in Shelton, Connecticut that received a Coronavirus-related PPP loan from the SBA of $2,089,570.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Trumbull Radiology Associates PC in Shelton, CT received a Paycheck Protection Loan of $2.09M through JPMorgan Chase Bank, National Association, which was approved in April, 2020.
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
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, Trumbull Radiology Associates PC's 2019 payroll expenses are estimated to be at least $10.03M.
Based on their reported 130 jobs retained, this equals an estimated average yearly compensation of $77,153 per employee1
Reported PPP Proceed Usage:
On the PPP application, Trumbull Radiology Associates PC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,532,267
- Utilities: $120,000
- Mortgage Interest: $55,000
- Rent: $235,303
- Health Care: $147,000
Business Information - Trumbull Radiology Associates PC in Shelton, CT
3 Enterprise Drive Suite 220 0.0
Shelton, CT 6484
Diagnostic Imaging Centers
NAICS code 621512
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Shelton
In the Shelton area, 3 businesses in the "Diagnostic Imaging Centers" industry received a PPP loan. These local businesses reported an average of 78 employees (compared to this company's 130) and received an average PPP loan of $1,311,761 (compared to this company's $2.09M).
Similar Nearby Businesses Who Received PPP Funding:
Bridgeport Radiological Associates, LLC
Advanced Radiology Consultants LLC
Industry PPP Comparison Statistics
Nationwide, 3,228 businesses in the "Diagnostic Imaging Centers" industry received a total of $543.6M 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, 89% lower than Trumbull Radiology Associates PC's reported 130 employees, and received an average PPP loan of $168,402, 92% lower than this company's loan of $2.09M.
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Footnotes & Information
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