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PPP Loan Data — Simply Dental Management Inc,
Hopkinton, MA
Simply Dental Management Inc
Entity: Corporation
Industry: Offices of Dentists
Location: Hopkinton, MA
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Simply Dental Management Inc is a corporation located at 87 Elm Street in Hopkinton, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $2,987,820.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 261 people during the applicable loan loan period.
$ PPP Loan Information
Loan Size:
Jobs Retained:
261Loan Approved:
2020-04-10Lender:
AVIDIA BANKSimply Dental Management Inc in Hopkinton, MA received a Paycheck Protection Loan of $2.99M through AVIDIA BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Simply Dental Management Inc's total 2019 payroll expenses were approximately $14.34M in order to qualify for the PPP loan amount received.
Based on their reported 261 jobs retained, this equals an estimated average yearly compensation of $54,948 per employee1.
Business Information - Simply Dental Management Inc in Hopkinton, MA
87 Elm Street
Hopkinton, MA 01748
Business Industry
Offices of Dentists (NAICS code 621210)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: NON-VETERAN
Congressional District: MA-04Similar Companies near Hopkinton
In the Hopkinton area, 17 businesses in the "Offices of Dentists" industry received a PPP loan. These local businesses reported an average of 24 employees (compared to this company's 261) and received an average PPP loan of $279,853 (compared to this company's $2.99M).
Similar Nearby Businesses Who Received PPP Funding:
Abbott
Hudson, MA
Dental Place Hopkinton, Inc.
Hopkinton, MA
Suba Dental
Hudson, MA
Aghapy Dental PC
Hudson, MA
Paquette Family Dental Group
Hudson, MA
Joseph A Menna, DMD, Inc
Hopkinton, MA
Harelick Dental Associates Of Holliston, LLC
Holliston, MA
Hopkinton Square Dental, PC
Hopkinton, MA
Toothprints, Inc.
Hopkinton, MA
Industry PPP Comparison Statistics
Nationwide, 101,110 businesses in the "Offices of Dentists" industry received a total of $8,216,479,982.00 in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 7 employees, 97% lower than Simply Dental Management Inc's reported 261 employees, and received an average PPP loan of $81,263, 97% lower than this company's loan of $2.99M.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan. All information displayed on this page is publicly available information under PPP loan guidelines, and is published unmodified, as provided by the SBA.
Footnotes & Information
1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
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