PPP Loan Data — Anchor Insulation Co., Inc., Pawtucket, RI
Anchor Insulation Co., Inc. is a corporation located at 435 Narragansett Park Drive in Pawtucket, Rhode Island that received a Coronavirus-related PPP loan from the SBA of $2,470,000.00 in April, 2020.
$ PPP Loan Information
Lender:TD BANK, NATIONAL ASSOCIATION
Anchor Insulation Co., Inc. in Pawtucket, RI received a Paycheck Protection Loan of $2.47M through TD BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Anchor Insulation Co., Inc.'s total 2019 payroll expenses were approximately $11.86M in order to qualify for the PPP loan amount received.
Based on their reported 158 jobs retained, this equals an estimated average yearly compensation of $75,038 per employee1.
Business Information - Anchor Insulation Co., Inc. in Pawtucket, RI
435 Narragansett Park Drive
Pawtucket, RI 02861
Drywall and Insulation Contractors (NAICS code 238310)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: RI-01
Similar Companies near Pawtucket
In the Pawtucket area, 5 businesses in the "Drywall and Insulation Contractors" industry received a PPP loan. These local businesses reported an average of 35 employees (compared to this company's 158) and received an average PPP loan of $519,109 (compared to this company's $2.47M).
Similar Nearby Businesses Who Received PPP Funding:
Cervantes Drywall LLC
4 Trades Construction, Inc.
Energy Efficient Exteriors, LLC
JS Drywall LLC
Industry PPP Comparison Statistics
Nationwide, 8,671 businesses in the "Drywall and Insulation Contractors" industry received a total of $1,670,996,792.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 14 employees, 91% lower than Anchor Insulation Co., Inc.'s reported 158 employees, and received an average PPP loan of $192,711, 92% lower than this company's loan of $2.47M.
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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