PPP Loan Data — Simply Dental Management Inc, Hopkinton, MA
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
Simply 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
Offices of Dentists (NAICS code 621210)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: MA-04
Similar 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:
Dental Place Hopkinton, Inc.
Aghapy Dental PC
Paquette Family Dental Group
Joseph A Menna, DMD, Inc
Harelick Dental Associates Of Holliston, LLC
Hopkinton Square Dental, PC
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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