PPP Loan Data — Dermatology Institute And Laser Center, LLC, Clifton, NJ
Dermatology Institute And Laser Center, LLC
Entity: Limited Liability Company (LLC)
Location: Clifton, NJTweet This • Search All PPP Data
Dermatology Institute And Laser Center, LLC is a limited liability company (LLC) located at 1100 Clifton Ave in Clifton, New Jersey that received a Coronavirus-related PPP loan from the SBA of $47,075.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Cross River Bank
Dermatology Institute And Laser Center, LLC in Clifton, NJ received a Paycheck Protection Loan of $47,075 through Cross River 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, Dermatology Institute And Laser Center, LLC's 2019 payroll expenses are estimated to be at least $225,960.
Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $22,596 per employee1
Reported PPP Proceed Usage:
On the PPP application, Dermatology Institute And Laser Center, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,075
Business Information - Dermatology Institute And Laser Center, LLC in Clifton, NJ
1100 Clifton Ave
Clifton, NJ 7013
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Clifton
In the Clifton area, 106 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 10) and received an average PPP loan of $117,200 (compared to this company's $47,075).
Similar Nearby Businesses Who Received PPP Funding:
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Whitney Medical PA
Premier Endoscopy LLC
Sessine Najjar MD
Ironbound Obgyn Limited Liability
Passaic County Orthopaedic, LLC
Industry PPP Comparison Statistics
Nationwide, 176,926 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a total of $21.07B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 3% of the total PPP funding allocated.
PPP recipients in this industry report an average of 11 employees, 10% higher than Dermatology Institute And Laser Center, LLC's reported 10 employees, and received an average PPP loan of $119,087, 153% higher than this company's loan of $47,075.
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