PPP Loan Data — Max Dental Inc, Springfield, VA
Max Dental Inc is a subchapter s corporation located at 5514 Alma Ln Ste 101 in Springfield, Virginia that received a Coronavirus-related PPP loan from the SBA of $46,300.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Truist Bank d/b/a Branch Banking & Trust Co
Max Dental Inc in Springfield, VA received a Paycheck Protection Loan of $46,300 through Truist Bank d/b/a Branch Banking & Trust Co, 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 June, 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, Max Dental Inc's 2019 payroll expenses are estimated to be at least $222,240.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $37,040 per employee1
Reported PPP Proceed Usage:
On the PPP application, Max Dental Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,300
Business Information - Max Dental Inc in Springfield, VA
5514 Alma Ln Ste 101
Springfield, VA 22151
NAICS code 339116
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Springfield
In the Springfield area, 3 businesses in the "Dental Laboratories" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 6) and received an average PPP loan of $65,172 (compared to this company's $46,300).
Similar Nearby Businesses Who Received PPP Funding:
Deena Hadithi DMD PC
Max Dental Lab Inc
Industry PPP Comparison Statistics
Nationwide, 6,631 businesses in the "Dental Laboratories" industry received a total of $469.5M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 8 employees, 33% higher than Max Dental Inc's reported 6 employees, and received an average PPP loan of $70,804, 53% higher than this company's loan of $46,300.
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