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PPP Loan Data — Fort Worth Cosmetic & Family Dentistry, Fort Worth, TX

SBA PPP loan data, payroll data, and salaries for Fort Worth Cosmetic & Family Dentistry
TX

Fort Worth Cosmetic & Family Dentistry

Entity: Subchapter S Corporation

Industry: Offices of Dentists

Location: Fort Worth, TX

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Fort Worth Cosmetic & Family Dentistry is a subchapter s corporation located at 5720 Locke Ave in Fort Worth, Texas that received a Coronavirus-related PPP loan from the SBA of $277,430.00 in January, 2021.

The company has reported itself as a female owned business, and employed at least twenty people during the applicable loan loan period.

$ PPP Loan Information
Loan #3726278309

Loan Size:

$277,430

Jobs Retained:

20

Loan Approved:

2021-01-22

Loan Status:

Ongoing Loan

Lender:

Happy State Bank

Fort Worth Cosmetic & Family Dentistry in Fort Worth, TX received a Paycheck Protection Loan of $277,430 through Happy State Bank, which was approved in January, 2021.

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

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Fort Worth Cosmetic & Family Dentistry's 2019 payroll expenses are estimated to be at least $1.33M.

Based on their reported 20 jobs retained, this equals an estimated average yearly compensation of $66,583 per employee1

Reported PPP Proceed Usage:

On the PPP application, Fort Worth Cosmetic & Family Dentistry reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $277,425
  • Utilities: $1

Business Information - Fort Worth Cosmetic & Family Dentistry in Fort Worth, TX

Fort Worth Cosmetic & Family Dentistry
5720 Locke Ave
Fort Worth, TX 76107

Business Industry:
Offices of Dentists
NAICS code 621210

Business Owner Demographics

Race: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Female Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

Tarrant County, TX — SBA Office 0610 — Congressional District: TX-12

Similar Companies near Fort Worth

In the Fort Worth area, 76 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 20) and received an average PPP loan of $65,526 (compared to this company's $277,430).

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, 60% lower than Fort Worth Cosmetic & Family Dentistry's reported 20 employees, and received an average PPP loan of $80,703, 71% lower than this company's loan of $277,430.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

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Footnotes & Information

1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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Source: www.federalpay.org/paycheck-protection-program/fort-worth-cosmetic-family-dentistry-fort-worth-tx