PPP Loan Data — William Hu DMD LLC, Salem, OR
William Hu DMD LLC is a limited liability company (LLC) located at 805 High St Ne in Salem, Oregon that received a Coronavirus-related PPP loan from the SBA of $25,125.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least two people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:U.S. Bank, National Association
William Hu DMD LLC in Salem, OR received a Paycheck Protection Loan of $25,125 through U.S. Bank, National Association, 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 May, 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, William Hu DMD LLC's 2019 payroll expenses are estimated to be at least $120,600.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,300 per employee1
Reported PPP Proceed Usage:
On the PPP application, William Hu DMD LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,125
Business Information - William Hu DMD LLC in Salem, OR
805 High St Ne
Salem, OR 97301
Offices of Dentists
NAICS code 621210
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Salem
In the Salem area, 111 businesses in the "Offices of Dentists" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 2) and received an average PPP loan of $131,051 (compared to this company's $25,125).
Similar Nearby Businesses Who Received PPP Funding:
Salem Endodontics And Microsurgery
Hunsaker Dental LLC
Drake Periodontics & Implantology PC
Mcfee Family Dental Care LLC
O'neill S. Solanky DDS LLC
Capitol Dental Group PC
South Salem Orthodontics, LLC
Gilmore Family Dentistry PC
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, 300% higher than William Hu DMD LLC's reported 2 employees, and received an average PPP loan of $80,703, 221% higher than this company's loan of $25,125.
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Footnotes & Information
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