PPP Loan Data — Woodland Anesthesiology Associates PC, Hartford, CT
Woodland Anesthesiology Associates PC
Location: Hartford, CTTweet This • Search All PPP Data
Woodland Anesthesiology Associates PC is a corporation located at 114 Woodland Street in Hartford, Connecticut that received a Coronavirus-related PPP loan from the SBA of $4,399,600.00 in April, 2020.
$ PPP Loan Information
Woodland Anesthesiology Associates PC in Hartford, CT received a Paycheck Protection Loan of $4.4M through BERKSHIRE BANK, which was approved in April, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 161 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 211.
Based on standard PPP eligibility rules, Woodland Anesthesiology Associates PC's total 2019 payroll expenses were approximately $21.12M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 161 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Woodland Anesthesiology Associates PC in Hartford, CT
114 Woodland Street
Hartford, CT 06105
Offices of Physicians (except Mental Health Specialists) (NAICS code 621111)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: CT-01
Similar Companies near Hartford
In the Hartford area, 31 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 37 employees (compared to this company's 161) and received an average PPP loan of $514,338 (compared to this company's $4.4M).
Similar Nearby Businesses Who Received PPP Funding:
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Linda Urban Murphy Lcsw
Advanced Orthopedics New England PC
Robert M Smith, MD, LLC
William R Maron MD PC
Paul B Murray MD LLC
Hartford Neurology LLC
Industry PPP Comparison Statistics
Nationwide, 114,302 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a total of $15,789,256,580.00 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 10 employees, 94% lower than Woodland Anesthesiology Associates PC's reported 161 employees, and received an average PPP loan of $138,136, 97% lower than this company's loan of $4.4M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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