PPP Loan Data — YCP Dental Management, Sarasota, FL
YCP Dental Management is a corporation located at 6320 15th Street East in Sarasota, Florida that received a Coronavirus-related PPP loan from the SBA of $25,100.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Truist Bank d/b/a Branch Banking & Trust Co
YCP Dental Management in Sarasota, FL received a Paycheck Protection Loan of $25,100 through Truist Bank d/b/a Branch Banking & Trust Co, 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, YCP Dental Management's 2019 payroll expenses are estimated to be at least $120,480.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,080 per employee1
Reported PPP Proceed Usage:
On the PPP application, YCP Dental Management reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,100
Business Information - YCP Dental Management in Sarasota, FL
6320 15th Street East
Sarasota, FL 34243
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: Urban
Similar Companies near Sarasota
In the Sarasota area, 21 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 $76,622 (compared to this company's $25,100).
Similar Nearby Businesses Who Received PPP Funding:
Sarasota Bay Dental
Joshua Colkmire DDS, PA
Warren G. Hoffman DDS. PA
Scott Granville Ames
Elena Petrova DDS PLLC
The Smile Centre PA
Parkview Dental Partners LLC
David J. Engelsberg DDS, 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 YCP Dental Management's reported 6 employees, and received an average PPP loan of $80,703, 222% higher than this company's loan of $25,100.
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Footnotes & Information
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