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PPP Loan Data — New England Family Dentistry, PC, Framingham, MA

SBA PPP loan data, payroll data, and salaries for New England Family Dentistry, PC
MA

New England Family Dentistry, PC

Entity: Corporation

Industry: Offices of Dentists

Location: Framingham, MA

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New England Family Dentistry, PC is a corporation located at 297 Union Ave in Framingham, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $2,962,600.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.96M

Jobs Retained:

275

Loan Approved:

2020-04-11

Lender:

AVIDIA BANK

New England Family Dentistry, PC received a Paycheck Protection Loan of $2.96M through AVIDIA BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, New England Family Dentistry, PC's total 2019 payroll expenses were approximately $14.22M in order to qualify for the PPP loan amount received.

Based on their reported 275 jobs retained, this equals an estimated average yearly compensation of $51,711 per employee1.

Because the loan received by New England Family Dentistry, PC 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 England Family Dentistry, PC in Framingham, MA

New England Family Dentistry, PC
297 Union Ave
Framingham, MA 1702

Business Industry

Offices of Dentists (NAICS code 621210)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MA-05

Similar Companies near Framingham

In the Framingham area, 42 businesses in the "Offices of Dentists" industry received a PPP loan. These local businesses reported an average of 14 employees (compared to this company's 275) and received an average PPP loan of $174,811 (compared to this company's $2.96M).

Industry PPP Comparison Statistics

Nationwide, 101,110 businesses in the "Offices of Dentists" industry received a total of $8,216,479,982.00 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 7 employees, 97% lower than New England Family Dentistry, PC's reported 275 employees, and received an average PPP loan of $81,263, 97% lower than this company's loan of $2.96M.

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.

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Footnotes & Information

1. 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.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/new-england-family-dentistry-pc-framingham-ma