PPP Loan Data — ROE Dental Laboratory, Inc, Independence, OH
ROE Dental Laboratory, Inc is a corporation located at 7165 East Pleasant Valley Rd in Independence, Ohio that received a Coronavirus-related PPP loan from the SBA of $1,813,000.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 186 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Consumers National Bank
ROE Dental Laboratory, Inc in Independence, OH received a Paycheck Protection Loan of $1.81M through Consumers 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 December, 2020.
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, ROE Dental Laboratory, Inc's 2019 payroll expenses are estimated to be at least $8.7M.
Based on their reported 186 jobs retained, this equals an estimated average yearly compensation of $46,787 per employee1
Reported PPP Proceed Usage:
On the PPP application, ROE Dental Laboratory, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,813,000
Business Information - ROE Dental Laboratory, Inc in Independence, OH
7165 East Pleasant Valley Rd
Independence, OH 44131
NAICS code 339116
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Independence
In the Independence area, 4 businesses in the "Dental Laboratories" industry received a PPP loan. These local businesses reported an average of 47 employees (compared to this company's 186) and received an average PPP loan of $462,470 (compared to this company's $1.81M).
Similar Nearby Businesses Who Received PPP Funding:
Makki Dental Lab LLC
Magda Dental Arts
Middleburg Hts, OH
Industry PPP Comparison Statistics
Nationwide, 6,631 businesses in the "Dental Laboratories" industry received a total of $469.5M 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 8 employees, 96% lower than ROE Dental Laboratory, Inc's reported 186 employees, and received an average PPP loan of $70,804, 96% lower than this company's loan of $1.81M.
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Footnotes & Information
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