PPP Loan Data — United Clinical Laboratories Inc, Dubuque, IA
United Clinical Laboratories Inc is a corporation located at 205 Bluff St, Suite 1 in Dubuque, Iowa that received a Coronavirus-related PPP loan from the SBA of $1,674,700.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
United Clinical Laboratories Inc in Dubuque, IA received a Paycheck Protection Loan of $1.67M through MidWestOne 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 July, 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, United Clinical Laboratories Inc's 2019 payroll expenses are estimated to be at least $8.04M.
Based on their reported 167 jobs retained, this equals an estimated average yearly compensation of $48,135 per employee1
Reported PPP Proceed Usage:
On the PPP application, United Clinical Laboratories Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,674,700
Business Information - United Clinical Laboratories Inc in Dubuque, IA
205 Bluff St, Suite 1
Dubuque, IA 52001
NAICS code 621511
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Dubuque
In the Dubuque area, 3 businesses in the "Medical Laboratories" industry received a PPP loan. These local businesses reported an average of 65 employees (compared to this company's 167) and received an average PPP loan of $691,467 (compared to this company's $1.67M).
Similar Nearby Businesses Who Received PPP Funding:
Dubuque Orthopaedic Surgeons
Cost Reduction Technologies LLC
Industry PPP Comparison Statistics
Nationwide, 5,753 businesses in the "Medical Laboratories" industry received a total of $848.85M 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, 92% lower than United Clinical Laboratories Inc's reported 167 employees, and received an average PPP loan of $147,548, 91% lower than this company's loan of $1.67M.
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Footnotes & Information
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