PPP Loan Data — Virginia Family Dentistry, PC, Midlothian, VA
Virginia Family Dentistry, PC is a subchapter s corporation located at 1612 Huguenot Rd in Midlothian, Virginia that received a Coronavirus-related PPP loan from the SBA of $5,425,300.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Atlantic Union Bank
Virginia Family Dentistry, PC in Midlothian, VA received a Paycheck Protection Loan of $5.43M through Atlantic Union 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 June, 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, Virginia Family Dentistry, PC's 2019 payroll expenses are estimated to be at least $26.04M.
Based on their reported 393 jobs retained, this equals an estimated average yearly compensation of $66,263 per employee1
Reported PPP Proceed Usage:
On the PPP application, Virginia Family Dentistry, PC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $5,425,300
Business Information - Virginia Family Dentistry, PC in Midlothian, VA
1612 Huguenot Rd
Midlothian, VA 23113
Offices of Dentists
NAICS code 621210
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Midlothian
In the Midlothian area, 54 businesses in the "Offices of Dentists" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 393) and received an average PPP loan of $196,620 (compared to this company's $5.43M).
Similar Nearby Businesses Who Received PPP Funding:
Justin S Edwards DMD MSD Plc
James T Rickman IV DDS PC
Apple Tree Dentistry, PLLC
Richmond Dental Group PLLC
R. Adrian Sorenson Dda & William R Monacell Dda GP
Midlothian Children's Dentistry LLC
Thomas A. Conner DDS
Dr Thomas B Padgett PC
J Han Dental Design PLLC
Industry PPP Comparison Statistics
Nationwide, 173,223 businesses in the "Offices of Dentists" industry received a total of $13.99B 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 8 employees, 98% lower than Virginia Family Dentistry, PC's reported 393 employees, and received an average PPP loan of $80,744, 99% lower than this company's loan of $5.43M.
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Footnotes & Information
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