PPP Loan Data — Winchester Cardiology & Vascular Medicine PC, Winchester, VA
Winchester Cardiology & Vascular Medicine PC
Location: Winchester, VATweet This • Search All PPP Data
Winchester Cardiology & Vascular Medicine PC is a corporation located at 1870 Amherst Street #100&200 in Winchester, Virginia that received a Coronavirus-related PPP loan from the SBA of $1,605,800.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First-Citizens Bank & Trust Company
Winchester Cardiology & Vascular Medicine PC in Winchester, VA received a Paycheck Protection Loan of $1.61M through First-Citizens Bank & Trust Company, 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, Winchester Cardiology & Vascular Medicine PC's 2019 payroll expenses are estimated to be at least $7.71M.
Based on their reported 157 jobs retained, this equals an estimated average yearly compensation of $49,095 per employee1
Reported PPP Proceed Usage:
On the PPP application, Winchester Cardiology & Vascular Medicine PC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,605,800
Business Information - Winchester Cardiology & Vascular Medicine PC in Winchester, VA
1870 Amherst Street #100&200
Winchester, VA 22601
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Winchester
In the Winchester area, 89 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 16 employees (compared to this company's 157) and received an average PPP loan of $198,305 (compared to this company's $1.61M).
Similar Nearby Businesses Who Received PPP Funding:
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Retina & Vitreous Consultants Of Virginia, PC
Blue Ridge Surgical Clinic
Winchester Pediatric Clinic PC
James A Salata MD Plc
Women First P C
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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, 93% lower than Winchester Cardiology & Vascular Medicine PC's reported 157 employees, and received an average PPP loan of $119,087, 93% lower than this company's loan of $1.61M.
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