PPP Loan Data — Riley Farm Dental & Braces, Fort Smith, AR
Riley Farm Dental & Braces is a limited liability company (LLC) located at 5901 Riley Farm Dr. Ste A in Fort Smith, Arkansas that received a Coronavirus-related PPP loan from the SBA of $46,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Riley Farm Dental & Braces in Fort Smith, AR received a Paycheck Protection Loan of $46,000 through Firstar 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 March, 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, Riley Farm Dental & Braces' 2019 payroll expenses are estimated to be at least $220,800.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $44,160 per employee1
Reported PPP Proceed Usage:
On the PPP application, Riley Farm Dental & Braces reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,000
Business Information - Riley Farm Dental & Braces in Fort Smith, AR
5901 Riley Farm Dr. Ste A
Fort Smith, AR 72916
Offices of Dentists
NAICS code 621210
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
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, 60% higher than Riley Farm Dental & Braces' reported 5 employees, and received an average PPP loan of $80,703, 75% higher than this company's loan of $46,000.
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Footnotes & Information
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