PPP Loan Data — Reid H. Olds, DDS, Okemos, MI
Reid H. Olds, DDS is an independent contractor located in Okemos, Michigan that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Loan Source Incorporated
Reid H. Olds, DDS in Okemos, MI received a Paycheck Protection Loan of $25,000 through Loan Source Incorporated, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
Reported PPP Proceed Usage:
On the PPP application, Reid H. Olds, DDS reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Reid H. Olds, DDS in Okemos, MI
* Full address is redacted to protect the privacy of individuals.
Offices of Dentists
NAICS code 621210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Okemos
In the Okemos area, 39 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 1) and received an average PPP loan of $104,937 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Restoration Family Dental PLLC
Gregory H Grady DDS PC
Convenient Family Dental Center,PC
Discover Smiles Pediatric Dentistry PLLC
Brian Carlin DDS Plc
Dr Bruce R Ferguson DDS PC
Gregory S. Brya, DDS
Eric L Eby DDS PC
Okemos Family Dentistry
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, 700% higher than Reid H. Olds, DDS's reported 1 employees, and received an average PPP loan of $80,703, 223% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
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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