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PPP Loan Data — New Application, Waterville, ME

ALERT: There are 4 PPP loans for a total of $4.54M in our database for businesses with the name "New Application" in Waterville, ME. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for New Application
ME Nonprofit Organization

New Application

Entity: Non-profit Organization

Industry: Offices of All Other Miscellaneous Health Practitioners

Location: Waterville, ME

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New Application is a non-profit organization located at 67 Eustis Pkwy in Waterville, Maine that received a Coronavirus-related PPP loan from the SBA of $3,733,133.00 in April, 2020.

$ PPP Loan Information
Loan #8093707008

Loan Size:

$3.73M

Jobs Retained:

375

Loan Approved:

2020-04-08

Loan Status:

Paid in Full or Forgiven

Lender:

Camden National Bank

New Application in Waterville, ME received a Paycheck Protection Loan of $3.73M through Camden National 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 July, 2021.

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, New Application's 2019 payroll expenses are estimated to be at least $17.92M.

Based on their reported 375 jobs retained, this equals an estimated average yearly compensation of $47,784 per employee1

Reported PPP Proceed Usage:

On the PPP application, New Application reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $3,733,133
Because the loan received by New Application is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - New Application in Waterville, ME

New Application
67 Eustis Pkwy
Waterville, ME 4901

Business Industry:
Offices of All Other Miscellaneous Health Practitioners
NAICS code 621399

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: Y

Rural / Urban: Rural

Kennebec County, ME — SBA Office 0172 — Congressional District: ME-01

Similar Companies near Waterville

In the Waterville area, 3 businesses in the "Offices of All Other Miscellaneous Health Practitioners" industry received a PPP loan. These local businesses reported an average of 126 employees (compared to this company's 375) and received an average PPP loan of $1,248,780 (compared to this company's $3.73M).

Industry PPP Comparison Statistics

Nationwide, 63,161 businesses in the "Offices of All Other Miscellaneous Health Practitioners" industry received a total of $2.46B 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 5 employees, 99% lower than New Application's reported 375 employees, and received an average PPP loan of $38,880, 99% lower than this company's loan of $3.73M.

SBA PPP loan data, payroll data, and salaries for New Application
ME

New Application

Entity: Corporation

Industry: Offices of Dentists

Location: Waterville, ME

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New Application is a corporation located at 57 Silver St in Waterville, Maine that received a Coronavirus-related PPP loan from the SBA of $153,435.00 in April, 2020.

$ PPP Loan Information
Loan #8492447010

Loan Size:

$153,435

Jobs Retained:

17

Loan Approved:

2020-04-08

Loan Status:

Paid in Full or Forgiven

Lender:

Camden National Bank

New Application in Waterville, ME received a Paycheck Protection Loan of $153,435 through Camden National 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 June, 2021.

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, New Application's 2019 payroll expenses are estimated to be at least $736,488.

Based on their reported 17 jobs retained, this equals an estimated average yearly compensation of $43,323 per employee1

Reported PPP Proceed Usage:

On the PPP application, New Application reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $153,435

Business Information - New Application in Waterville, ME

New Application
57 Silver St
Waterville, ME 4901

Business Industry:
Offices of Dentists
NAICS code 621210

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: Y

Rural / Urban: Rural

Kennebec County, ME — SBA Office 0172 — Congressional District: ME-01

Similar Companies near Waterville

In the Waterville area, 14 businesses in the "Offices of Dentists" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 17) and received an average PPP loan of $72,917 (compared to this company's $153,435).

Industry PPP Comparison Statistics

Nationwide, 173,223 businesses in the "Offices of Dentists" industry received a total of $13.99B in PPP loans. These businesses account for 2% 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, 53% lower than New Application's reported 17 employees, and received an average PPP loan of $80,744, 47% lower than this company's loan of $153,435.

SBA PPP loan data, payroll data, and salaries for New Application
ME

New Application

Entity: Limited Liability Company (LLC)

Industry: Offices of Dentists

Location: Waterville, ME

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New Application is a limited liability company (LLC) located at 159 Silver Street in Waterville, Maine that received a Coronavirus-related PPP loan from the SBA of $57,412.00 in April, 2020.

$ PPP Loan Information
Loan #8575007002

Loan Size:

$57,412

Jobs Retained:

11

Loan Approved:

2020-04-08

Loan Status:

Paid in Full or Forgiven

Lender:

Camden National Bank

New Application in Waterville, ME received a Paycheck Protection Loan of $57,412 through Camden National 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 February, 2021.

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, New Application's 2019 payroll expenses are estimated to be at least $275,578.

Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $25,053 per employee1

Reported PPP Proceed Usage:

On the PPP application, New Application reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $57,412

Business Information - New Application in Waterville, ME

New Application
159 Silver Street
Waterville, ME 4901

Business Industry:
Offices of Dentists
NAICS code 621210

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: Y

Rural / Urban: Rural

Kennebec County, ME — SBA Office 0172 — Congressional District: ME-01

Similar Companies near Waterville

In the Waterville area, 14 businesses in the "Offices of Dentists" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 11) and received an average PPP loan of $72,917 (compared to this company's $57,412).

Industry PPP Comparison Statistics

Nationwide, 173,223 businesses in the "Offices of Dentists" industry received a total of $13.99B in PPP loans. These businesses account for 2% 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, 27% lower than New Application's reported 11 employees, and received an average PPP loan of $80,744, 41% higher than this company's loan of $57,412.

SBA PPP loan data, payroll data, and salaries for New Application
ME

New Application

Entity: Limited Liability Company (LLC)

Industry: Offices of Physicians (except Mental Health Specialists)

Location: Waterville, ME

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New Application is a limited liability company (LLC) located at 31 Front Street in Waterville, Maine that received a Coronavirus-related PPP loan from the SBA of $600,000.00 in April, 2020.

$ PPP Loan Information
Loan #7219267009

Loan Size:

$600,000

Jobs Retained:

16

Loan Approved:

2020-04-07

Loan Status:

Paid in Full or Forgiven

Lender:

Camden National Bank
Likely Employment Reduction3

New Application in Waterville, ME received a Paycheck Protection Loan of $600,000 through Camden National 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 June, 2021.

The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 16 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.

The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 29. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.

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, New Application's 2019 payroll expenses are estimated to be at least $2.88M (not accounting for salary amounts > $100k).

Because the 16 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.

Reported PPP Proceed Usage:

On the PPP application, New Application reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $600,000

Business Information - New Application in Waterville, ME

New Application
31 Front Street
Waterville, ME 4901

Business Industry:
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: Y

Rural / Urban: Rural

Kennebec County, ME — SBA Office 0172 — Congressional District: ME-01

Similar Companies near Waterville

In the Waterville area, 11 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 16) and received an average PPP loan of $129,427 (compared to this company's $600,000).

Industry PPP Comparison Statistics

Nationwide, 176,427 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a total of $21.05B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 3% of the total PPP funding allocated.

PPP recipients in this industry report an average of 11 employees, 31% lower than New Application's reported 16 employees, and received an average PPP loan of $119,313, 80% lower than this company's loan of $600,000.

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.

Search FederalPay's Full PPP Loan Database

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.

3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/new-application-waterville-me