PPP Loan Data — Advanced Dental Associates Inc, Chapel Hill, NC
Advanced Dental Associates Inc is a corporation located at 11312 Us 15-501 North in Chapel Hill, North Carolina that received a Coronavirus-related PPP loan from the SBA of $79,253.00 in May, 2020.
$ PPP Loan Information
Jobs Retained:0 Unreported
Lender:WELLS FARGO BANK, NATIONAL ASSOCIATION
Advanced Dental Associates Inc received a Paycheck Protection Loan of $79,253 through WELLS FARGO BANK, NATIONAL ASSOCIATION, which was approved in May, 2020.
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 0.
Based on standard PPP eligibility rules, Advanced Dental Associates Inc's total 2019 payroll expenses were approximately $380,414 in order to qualify for the PPP loan amount received.
Unlike most businesses, Advanced Dental Associates Inc's PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.
Business Information - Advanced Dental Associates Inc in Chapel Hill, NC
11312 Us 15-501 North
Chapel Hill, NC 27517
Offices of Dentists (NAICS code 621210)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: NC-04
Similar Companies near Chapel Hill
In the Chapel Hill area, 46 businesses in the "Offices of Dentists" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 0) and received an average PPP loan of $206,359 (compared to this company's $79,253).
Similar Nearby Businesses Who Received PPP Funding:
Matthew H Quinlivan DDS And Assoc
Lake Pine Oral & Facial Surgery
SM Mehrabani DDS PA
Oral Technology & Sciences LLC
Evelyn M Brown, DDS, PA
Paula M Stapleton DDS PLLC
Frederick G Lehmann, DDS, PA
Chapel Hill, NC
DRS Smith & Stanley, PLLC
Industry PPP Comparison Statistics
Nationwide, 101,110 businesses in the "Offices of Dentists" industry received a total of $8,216,479,982.00 in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 7 employees, and received an average PPP loan of $81,263, 3% higher than this company's loan of $79,253.
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. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
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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