PPP Loan Data — Ferdos Family Dentistry LLC, Cornelia, GA
Ferdos Family Dentistry LLC is a joint venture located at 307 North Main St in Cornelia, Georgia that received a Coronavirus-related PPP loan from the SBA of $46,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Ferdos Family Dentistry LLC in Cornelia, GA received a Paycheck Protection Loan of $46,000 through Ameris 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 April, 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, Ferdos Family Dentistry LLC's 2019 payroll expenses are estimated to be at least $220,800.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $36,800 per employee1
Reported PPP Proceed Usage:
On the PPP application, Ferdos Family Dentistry LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $36,800
- Utilities: $4,600
- Mortgage Interest: $4,600
Business Information - Ferdos Family Dentistry LLC in Cornelia, GA
307 North Main St
Cornelia, GA 30531
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: Rural
Similar Companies near Cornelia
In the Cornelia area, 7 businesses in the "Offices of Dentists" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 6) and received an average PPP loan of $54,267 (compared to this company's $46,000).
Similar Nearby Businesses Who Received PPP Funding:
Holly R. Cantell, DMD., MS., PC
Elite Dentistry Of Habersham, Lc
David F Hermann MD
Patrick K Mcshane DMD, 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 Ferdos Family Dentistry LLC's reported 6 employees, and received an average PPP loan of $80,703, 75% higher than this company's loan of $46,000.
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Footnotes & Information
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