PPP Loan Data — David J Seifferly DDS Plc, Allegan, MI
David J Seifferly DDS Plc is a limited liability company (LLC) located at 425 Cutler St in Allegan, Michigan that received a Coronavirus-related PPP loan from the SBA of $46,250.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Fifth Third Bank
David J Seifferly DDS Plc in Allegan, MI received a Paycheck Protection Loan of $46,250 through Fifth Third Bank, which was approved in May, 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, David J Seifferly DDS Plc's 2019 payroll expenses are estimated to be at least $222,000.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $37,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, David J Seifferly DDS Plc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,250
Business Information - David J Seifferly DDS Plc in Allegan, MI
425 Cutler St
Allegan, MI 49010
Offices of Dentists
NAICS code 621210
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Allegan
In the Allegan area, 5 businesses in the "Offices of Dentists" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 6) and received an average PPP loan of $68,600 (compared to this company's $46,250).
Similar Nearby Businesses Who Received PPP Funding:
Evan A Be DDS Plc
Michael D. Wetters, DDS, PC
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, 33% higher than David J Seifferly DDS Plc's reported 6 employees, and received an average PPP loan of $80,703, 74% higher than this company's loan of $46,250.
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Footnotes & Information
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