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PPP Loan Data — University Eye Specialists PC, Knoxville, TN

ALERT: There are 2 PPP loans for a total of $2.31M in our database for businesses with the name "University Eye Specialists PC" in Knoxville, TN. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for University Eye Specialists PC
TN

University Eye Specialists PC

Entity: Corporation

Industry: Offices of Physicians (except Mental Health Specialists)

Location: Knoxville, TN

Search All PPP Data

University Eye Specialists PC is a corporation located at 1932 Alcoa Hwy Ste 255 in Knoxville, Tennessee that received a Coronavirus-related PPP loan from the SBA of $1,161,412.00 in February, 2021.

$ PPP Loan Information
Loan #8079098407

Loan Size:

$1.16M

Jobs Retained:

104

Loan Approved:

2021-02-12

Loan Status:

Ongoing Loan

Lender:

First Horizon Bank

University Eye Specialists PC in Knoxville, TN received a Paycheck Protection Loan of $1.16M through First Horizon Bank, which was approved in February, 2021.

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. The loan's status was last updated by the SBA in November, -0001.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, University Eye Specialists PC's 2019 payroll expenses are estimated to be at least $5.57M.

Based on their reported 104 jobs retained, this equals an estimated average yearly compensation of $53,604 per employee1

Reported PPP Proceed Usage:

On the PPP application, University Eye Specialists PC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,161,405
  • Utilities: $1

Business Information - University Eye Specialists PC in Knoxville, TN

University Eye Specialists PC
1932 Alcoa Hwy Ste 255
Knoxville, TN 37920

Business Industry:
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: Y

Rural / Urban: Urban

Knox County, TN — SBA Office 0474 — Congressional District: TN-02

Similar Companies near Knoxville

In the Knoxville area, 23 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 29 employees (compared to this company's 104) and received an average PPP loan of $353,093 (compared to this company's $1.16M).

Industry PPP Comparison Statistics

Nationwide, 176,427 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a total of $21.05B 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, 89% lower than University Eye Specialists PC's reported 104 employees, and received an average PPP loan of $119,313, 90% lower than this company's loan of $1.16M.

SBA PPP loan data, payroll data, and salaries for University Eye Specialists, PC
TN

University Eye Specialists, PC

Entity: Corporation

Industry: Offices of Physicians (except Mental Health Specialists)

Location: Knoxville, TN

Search All PPP Data

University Eye Specialists, PC is a corporation located at 1932 Alcoa Hwy Suite 255 in Knoxville, Tennessee that received a Coronavirus-related PPP loan from the SBA of $1,150,813.00 in April, 2020.

$ PPP Loan Information
Loan #6864737006

Loan Size:

$1.15M

Jobs Retained:

99

Loan Approved:

2020-04-07

Loan Status:

Paid in Full or Forgiven

Lender:

First Horizon Bank

University Eye Specialists, PC in Knoxville, TN received a Paycheck Protection Loan of $1.15M through First Horizon 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 February, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, University Eye Specialists, PC's 2019 payroll expenses are estimated to be at least $5.52M.

Based on their reported 99 jobs retained, this equals an estimated average yearly compensation of $55,797 per employee1

Reported PPP Proceed Usage:

On the PPP application, University Eye Specialists, PC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $970,124
  • Utilities: $4,728
  • Rent: $86,756
  • Health Care: $84,065
  • Debt Interest: $5,140

Business Information - University Eye Specialists, PC in Knoxville, TN

University Eye Specialists, PC
1932 Alcoa Hwy Suite 255
Knoxville, TN 37920

Business Industry:
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: Y

Rural / Urban: Urban

Knox County, TN — SBA Office 0474 — Congressional District: TN-02

Similar Companies near Knoxville

In the Knoxville area, 23 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 29 employees (compared to this company's 99) and received an average PPP loan of $353,093 (compared to this company's $1.15M).

Industry PPP Comparison Statistics

Nationwide, 176,427 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a total of $21.05B 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, 89% lower than University Eye Specialists, PC's reported 99 employees, and received an average PPP loan of $119,313, 90% lower than this company's loan of $1.15M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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Source: www.federalpay.org/paycheck-protection-program/university-eye-specialists-pc-knoxville-tn