PPP Loan Data — Vanguard Medical Group, PA, Fairfield, NJ
Vanguard Medical Group, PA
Location: Fairfield, NJTweet This • Search All PPP Data
Vanguard Medical Group, PA is a corporation located at 700 Route 46 East Suite # 450 Suite # 450 in Fairfield, New Jersey that received a Coronavirus-related PPP loan from the SBA of $2,531,127.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:TD Bank, National Association
Vanguard Medical Group, PA in Fairfield, NJ received a Paycheck Protection Loan of $2.53M through TD Bank, 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, Vanguard Medical Group, PA's 2019 payroll expenses are estimated to be at least $12.15M.
Based on their reported 200 jobs retained, this equals an estimated average yearly compensation of $60,747 per employee1
Reported PPP Proceed Usage:
On the PPP application, Vanguard Medical Group, PA reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,531,127
Business Information - Vanguard Medical Group, PA in Fairfield, NJ
700 Route 46 East Suite # 450 Suite # 450
Fairfield, NJ 7004
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 Fairfield
In the Fairfield area, 43 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 35 employees (compared to this company's 200) and received an average PPP loan of $320,524 (compared to this company's $2.53M).
Similar Nearby Businesses Who Received PPP Funding:
Jaime R Soriano MD PA
Naresh Rana MD PA
Special Care Ob-Gyn Associates PC
SM Medical LLC
Shirish V Bhatt MD 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, 95% lower than Vanguard Medical Group, PA's reported 200 employees, and received an average PPP loan of $119,087, 95% lower than this company's loan of $2.53M.
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Footnotes & Information
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