PPP Loan Data — Parkwood Dental Group, Southfield, MI
Parkwood Dental Group is a sole proprietorship located at 21599 W. 11 Mile #200 in Southfield, Michigan that received a Coronavirus-related PPP loan from the SBA of $25,282.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Parkwood Dental Group in Southfield, MI received a Paycheck Protection Loan of $25,282 through WebBank, which was approved in May, 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, Parkwood Dental Group's 2019 payroll expenses are estimated to be at least $121,354.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $17,336 per employee1
Reported PPP Proceed Usage:
On the PPP application, Parkwood Dental Group reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,282
Business Information - Parkwood Dental Group in Southfield, MI
21599 W. 11 Mile #200
Southfield, MI 48076
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 Southfield
In the Southfield area, 82 businesses in the "Offices of Dentists" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 7) and received an average PPP loan of $87,484 (compared to this company's $25,282).
Similar Nearby Businesses Who Received PPP Funding:
Ronald Uppleger Jr DDS
Bernard Sanders DDS PC
Jeffrey M Solomon DDS PC
Lathrup Village, MI
Affordable Dental Care PLLC
Lathrup Village, MI
Jose S. Aviles D.d.p.h., DDS
Sheila L Armstrong DDS PLLC
Forston Family Dentistry PC
GD Mi, PLLC
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, 14% higher than Parkwood Dental Group's reported 7 employees, and received an average PPP loan of $80,703, 219% higher than this company's loan of $25,282.
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Footnotes & Information
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