PPP Loan Data — Upstate Emergency Medicine, Inc, Syracuse, NY
Upstate Emergency Medicine, Inc
Entity: Non-profit Organization
Location: Syracuse, NYTweet This • Search All PPP Data
Upstate Emergency Medicine, Inc is a non-profit organization located at 750 East Adams Street in Syracuse, New York that received a Coronavirus-related PPP loan from the SBA of $2,221,300.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:KeyBank National Association
Upstate Emergency Medicine, Inc in Syracuse, NY received a Paycheck Protection Loan of $2.22M through KeyBank National Association, which was approved in April, 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, Upstate Emergency Medicine, Inc's 2019 payroll expenses are estimated to be at least $10.66M.
Based on their reported 121 jobs retained, this equals an estimated average yearly compensation of $88,118 per employee1
Reported PPP Proceed Usage:
On the PPP application, Upstate Emergency Medicine, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,221,300
Business Information - Upstate Emergency Medicine, Inc in Syracuse, NY
750 East Adams Street
Syracuse, NY 13210
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Syracuse
In the Syracuse area, 43 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 31 employees (compared to this company's 121) and received an average PPP loan of $475,930 (compared to this company's $2.22M).
Similar Nearby Businesses Who Received PPP Funding:
Physical Medicine And Rehabilitation Msg, LLP
University Pathologists Laboratories, LLP
Rabia Rizwana, MD
Musculoskeletal Medicine PC
Neonatal Associates Of Central NY, PC
Syracuse Gastroenterological Associates, PC
University Otolaryngology Assoc Of Central New York LLP
Central New York Surgical Physicians, PC
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, 91% lower than Upstate Emergency Medicine, Inc's reported 121 employees, and received an average PPP loan of $119,087, 95% lower than this company's loan of $2.22M.
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