PPP Loan Data — Joonghyuk Michael Kim LLC, Columbia, MD
Joonghyuk Michael Kim LLC is a limited liability company (LLC) located at 5450 Knoll North Dr Ste 310 in Columbia, Maryland that received a Coronavirus-related PPP loan from the SBA of $47,103.00 in April, 2020.
The company has reported itself as an Asian male owned business, and employed at least eight people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Joonghyuk Michael Kim LLC in Columbia, MD received a Paycheck Protection Loan of $47,103 through Bank of America, National Association, 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, Joonghyuk Michael Kim LLC's 2019 payroll expenses are estimated to be at least $226,094.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $28,262 per employee1
Reported PPP Proceed Usage:
On the PPP application, Joonghyuk Michael Kim LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,103
Business Information - Joonghyuk Michael Kim LLC in Columbia, MD
5450 Knoll North Dr Ste 310
Columbia, MD 21045
Offices of Dentists
NAICS code 621210
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Columbia
In the Columbia area, 97 businesses in the "Offices of Dentists" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 8) and received an average PPP loan of $81,893 (compared to this company's $47,103).
Similar Nearby Businesses Who Received PPP Funding:
James K Ryee Dental Care PC
Ste 20, MD
Shore Family Dentistry LLC
Columbia Oral & Facial Surgery Center LLC
Shadi Ghozati DDS PA
Garbis Dental Associates - Family And Cosmetic Dentistry
Dodek & Dodek DDS LLC
Dynamic Dental Care LLC
Model Dental Clinic
Columbia Dental Solutions LLC
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, the same amount reported by Joonghyuk Michael Kim LLC and received an average PPP loan of $80,703, 71% higher than this company's loan of $47,103.
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