PPP Loan Data — DR. Forrest Groves, Boulder, CO
DR. Forrest Groves is a sole proprietorship located at 3000 Center Green Dr #240 in Boulder, Colorado that received a Coronavirus-related PPP loan from the SBA of $47,192.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
DR. Forrest Groves in Boulder, CO received a Paycheck Protection Loan of $47,192 through ANB Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in February, 2021.
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, DR. Forrest Groves' 2019 payroll expenses are estimated to be at least $226,522.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $56,631 per employee1
Reported PPP Proceed Usage:
On the PPP application, DR. Forrest Groves reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $35,394
- Rent: $11,798
Business Information - DR. Forrest Groves in Boulder, CO
3000 Center Green Dr #240
Boulder, CO 80301
Offices of Dentists
NAICS code 621210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Boulder
In the Boulder area, 71 businesses in the "Offices of Dentists" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 4) and received an average PPP loan of $88,035 (compared to this company's $47,192).
Similar Nearby Businesses Who Received PPP Funding:
Jeffrey H Wong DDS., MS., PC
Mark J. Birnbach DMD
Lopez Dental Health Group PC
Marc A. Alber, DDS., PC
Weissman Family Dental, PC
Michael J. Adler, DDS,PC
Brent R. Lang, DDS PC
Heidi Winquist 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, 100% higher than DR. Forrest Groves' reported 4 employees, and received an average PPP loan of $80,703, 71% higher than this company's loan of $47,192.
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Footnotes & Information
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