PPP Loan Data — Biolase, Inc., Irvine, CA
Biolase, Inc. is a corporation located at 4 Cromwell in Irvine, California that received a Coronavirus-related PPP loan from the SBA of $2,980,000.00 in April, 2020.
$ PPP Loan Information
Lender:PACIFIC MERCANTILE BANK
Biolase, Inc. in Irvine, CA received a Paycheck Protection Loan of $2.98M through PACIFIC MERCANTILE BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Biolase, Inc.'s total 2019 payroll expenses were approximately $14.3M in order to qualify for the PPP loan amount received.
Based on their reported 156 jobs retained, this equals an estimated average yearly compensation of $91,692 per employee1.
Business Information - Biolase, Inc. in Irvine, CA
Irvine, CA 92618
Surgical and Medical Instrument Manufacturing (NAICS code 339112)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: CA-45
Similar Companies near Irvine
In the Irvine area, 17 businesses in the "Surgical and Medical Instrument Manufacturing" industry received a PPP loan. These local businesses reported an average of 66 employees (compared to this company's 156) and received an average PPP loan of $1,259,874 (compared to this company's $2.98M).
Similar Nearby Businesses Who Received PPP Funding:
Integrated Endoscopy, Inc.
Luminas International LLC
Clearpoint Neuro, Inc
OCT Medical Imaging Inc
Medicatech USA, Inc
TEK Medical Systems, LLC
Swift Health Systems, Inc.
Industry PPP Comparison Statistics
Nationwide, 2,193 businesses in the "Surgical and Medical Instrument Manufacturing" industry received a total of $649,163,907.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 18 employees, 88% lower than Biolase, Inc.'s reported 156 employees, and received an average PPP loan of $296,016, 90% lower than this company's loan of $2.98M.
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, and is published unmodified, as provided by the SBA.
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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