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#Radi shamsi md full

Payroll Estimates Based On SBA PPP Loan Eligibility Formula This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap. The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 4. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors. 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 3 jobs reported as retained on the PPP application 3. The loan's status was last updated by the SBA in September, 2021. This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. Shahrad Radi Shamsi MD Inc in Santa Monica, CA received a Paycheck Protection Loan of $81,300 through BayFirst National Bank, which was approved in April, 2020. On the PPP application, Shahrad Radi Shamsi MD Inc reported intending to use the proceeds of their PPP loan for the following expenses:īusiness Information - Shahrad Radi Shamsi MD Inc in Santa Monica, CA In order to qualify for the PPP loan amount received, Shahrad Radi Shamsi MD Inc's 2019 payroll expenses are estimated to be at least $227,078.īased on their reported 4 jobs retained, this equals an estimated average yearly compensation of $56,770 per employee 1 Reported PPP Proceed Usage: Please Note: Information on estimated payroll and compensation based on PPP rules is provided for informational purposes only.īased 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).

#Radi shamsi md full

Additionally, because this standard calculation is based on the maximum loan eligibility, it will under-estimate payroll costs if the business did not apply for the full amount of loan to which it was entitled based on its 2019 payroll expenses and other variables described above.

Because salaries for PPP eligibility purposes are capped at $100k, businesses with highly-compensated employees will yield an under-estimation of actual payroll costs.

This estimation assumes that the PPP recipient applied for the full amount for which they were eligible, and no other variables affected the loan amount received. Situations may exist in which it may not be accurate to estimate a PPP recipient's payroll expenses based on the amount of PPP loan received.

SES - Senior Executive Service Pay Calculatorįor Shahrad Radi Shamsi MD Inc, the calculation used to estimate payroll costs is shown below:.

FWS - Federal Wage System Pay Calculator.