PPP Loan Data — Daniel C Drought OD Inc, Geneva, OH
Daniel C Drought OD Inc is a corporation located at 895 South Broadway Po Box 389 in Geneva, Ohio that received a Coronavirus-related PPP loan from the SBA of $46,391.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:The Andover Bank
Daniel C Drought OD Inc in Geneva, OH received a Paycheck Protection Loan of $46,391 through The Andover Bank, which was approved in April, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based 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). In order to qualify for the PPP loan amount received, Daniel C Drought OD Inc's 2019 payroll expenses are estimated to be at least $222,677.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $55,669 per employee1
Reported PPP Proceed Usage:
On the PPP application, Daniel C Drought OD Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,391
Business Information - Daniel C Drought OD Inc in Geneva, OH
895 South Broadway Po Box 389
Geneva, OH 44041
Offices of Dentists
NAICS code 621210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Geneva
In the Geneva area, 6 businesses in the "Offices of Dentists" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 4) and received an average PPP loan of $77,847 (compared to this company's $46,391).
Similar Nearby Businesses Who Received PPP Funding:
Geneva Family Dental, LLC
Cooper Owens DDS LLC
James C Fortney DDS Inc
Industry PPP Comparison Statistics
Nationwide, 173,521 businesses in the "Offices of Dentists" industry received a total of $14B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 8 employees, 100% higher than Daniel C Drought OD Inc's reported 4 employees, and received an average PPP loan of $80,703, 74% higher than this company's loan of $46,391.
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Footnotes & Information
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