PPP Loan Data — Light Wave Dental Management LLC, Woodbridge, VA
Light Wave Dental Management LLC is a limited liability company (LLC) located at 13580 Groupe Dr Suite 305 in Woodbridge, Virginia that received a Coronavirus-related PPP loan from the SBA of $2,434,400.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:City National Bank
Light Wave Dental Management LLC in Woodbridge, VA received a Paycheck Protection Loan of $2.43M through City National Bank, which was approved in April, 2020.
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
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, Light Wave Dental Management LLC's 2019 payroll expenses are estimated to be at least $11.69M.
Based on their reported 277 jobs retained, this equals an estimated average yearly compensation of $42,185 per employee1
Reported PPP Proceed Usage:
On the PPP application, Light Wave Dental Management LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,069,240
- Utilities: $121,720
- Rent: $243,440
Business Information - Light Wave Dental Management LLC in Woodbridge, VA
13580 Groupe Dr Suite 305
Woodbridge, VA 22192
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 Woodbridge
In the Woodbridge area, 100 businesses in the "Offices of Dentists" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 277) and received an average PPP loan of $110,821 (compared to this company's $2.43M).
Similar Nearby Businesses Who Received PPP Funding:
Rita D. Wright DMD PLLC
Dr Ansam Zaiber LLC
Raymond R. Niles Jr. DDS LTD
Woodbridge Periodontal And Implant Center
Woodbridge Comfort Dental Care PLLC
Lawrence R Muller, DDS, PC
Woodbridge Periodontal And Implant Center PLLC
Oral Surgery Associates Of Northern Virginia LTD
Joel R Braunfeld 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, 97% lower than Light Wave Dental Management LLC's reported 277 employees, and received an average PPP loan of $80,703, 97% lower than this company's loan of $2.43M.
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Footnotes & Information
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