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PPP Loan Data — WMC Physician Practices LLC, Weirton, WV

SBA PPP loan data, payroll data, and salaries for WMC Physician Practices LLC
WV

WMC Physician Practices LLC

Entity: Limited Liability Company (LLC)

Industry: General Medical and Surgical Hospitals

Location: Weirton, WV

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WMC Physician Practices LLC is a limited liability company (LLC) located at 651 Colliers Way in Weirton, West Virginia that received a Coronavirus-related PPP loan from the SBA of $3,467,058.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.47M

Jobs Retained:

267

Loan Approved:

2020-04-13

Lender:

CNB BANK

WMC Physician Practices LLC received a Paycheck Protection Loan of $3.47M through CNB BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, WMC Physician Practices LLC's total 2019 payroll expenses were approximately $16.64M in order to qualify for the PPP loan amount received.

Based on their reported 267 jobs retained, this equals an estimated average yearly compensation of $62,329 per employee1.

Because the loan received by WMC Physician Practices LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - WMC Physician Practices LLC in Weirton, WV

WMC Physician Practices LLC
651 Colliers Way
Weirton, WV 26062

Business Industry

General Medical and Surgical Hospitals (NAICS code 622110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: WV-01

Industry PPP Comparison Statistics

Nationwide, 6,339 businesses in the "General Medical and Surgical Hospitals" industry received a total of $3,112,462,478.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 40 employees, 85% lower than WMC Physician Practices LLC's reported 267 employees, and received an average PPP loan of $491,002, 86% lower than this company's loan of $3.47M.

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.

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Footnotes & Information

1. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/wmc-physician-practices-llc-weirton-wv