PPP Loan Data — Serenity Dental Spa, Newton, NJ
Serenity Dental Spa is a limited liability company (LLC) located at 95 Sparta Ave, Ste. 2 in Newton, New Jersey that received a Coronavirus-related PPP loan from the SBA of $46,841.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Valley National Bank
Serenity Dental Spa in Newton, NJ received a Paycheck Protection Loan of $46,841 through Valley National Bank, which was approved in April, 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, Serenity Dental Spa's 2019 payroll expenses are estimated to be at least $224,837.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $37,473 per employee1
Reported PPP Proceed Usage:
On the PPP application, Serenity Dental Spa reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,841
Business Information - Serenity Dental Spa in Newton, NJ
95 Sparta Ave, Ste. 2
Newton, NJ 7860
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: Rural
Similar Companies near Newton
In the Newton area, 14 businesses in the "Offices of Dentists" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 6) and received an average PPP loan of $74,725 (compared to this company's $46,841).
Similar Nearby Businesses Who Received PPP Funding:
Michael T Ward DMD PA
Newton Sparta Pediatric Dentistry And Orthodontics P A
Sachs And Schwarzwald, DDS
Sussex County Endodontics, PC
Best Dental Car NJ LLC
Associated Dental Center, LLC
Dr E Zoltek DMD Professional Association
Robert V Fiore DMD PA
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, 33% higher than Serenity Dental Spa's reported 6 employees, and received an average PPP loan of $80,703, 72% higher than this company's loan of $46,841.
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Footnotes & Information
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