PPP Loan Data — Klym Entities PLLC, Petoskey, MI
Klym Entities PLLC is a limited liability partnership located at 2044 E Mitchell Rd in Petoskey, Michigan that received a Coronavirus-related PPP loan from the SBA of $46,600.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Community Bank
Klym Entities PLLC in Petoskey, MI received a Paycheck Protection Loan of $46,600 through First Community 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 March, 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, Klym Entities PLLC's 2019 payroll expenses are estimated to be at least $223,680.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $55,920 per employee1
Reported PPP Proceed Usage:
On the PPP application, Klym Entities PLLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,600
Business Information - Klym Entities PLLC in Petoskey, MI
2044 E Mitchell Rd
Petoskey, MI 49770
Offices of Dentists
NAICS code 621210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Petoskey
In the Petoskey area, 24 businesses in the "Offices of Dentists" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 4) and received an average PPP loan of $262,751 (compared to this company's $46,600).
Similar Nearby Businesses Who Received PPP Funding:
Paul W. Reed DDS. MS
D. Scott Eaton, DDS, PC
Paul E. Gutt DDS PC
David K Miller Jr DDS PC
Harbor Pointe Dental Of Petoskey, LLC
Bryan T Stump DMD
FRY Orthodontics PLLC
Brian Jeremy Wills DBA None
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 Klym Entities PLLC's reported 4 employees, and received an average PPP loan of $80,703, 73% higher than this company's loan of $46,600.
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Footnotes & Information
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