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PPP Loan Data — Arben Teta, Rocky Hill, CT

SBA PPP loan data, payroll data, and salaries for Arben Teta
CT

Arben Teta

Entity: Sole Proprietorship

Industry: General Freight Trucking, Long-Distance, Less Than Truckload

Location: Rocky Hill, CT

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Arben Teta is a sole proprietorship located in Rocky Hill, Connecticut that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in January, 2021.

$ PPP Loan Information
Loan #5979378301

Loan Size:

$25,000

Jobs Retained:

1

Loan Approved:

2021-01-26

Loan Status:

Ongoing Loan

Lender:

Webster Bank, National Association
Likely Employment Reduction3

Arben Teta in Rocky Hill, CT received a Paycheck Protection Loan of $25,000 through Webster Bank, National Association, which was approved in January, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 1 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.

The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.


PPP Calculation Note: The total PPP loan an eligible business or individual can receive is based on 2.5 times their average monthly 2019 payroll expenses, capped at $100,000 annually per employee.

Reported PPP Proceed Usage:

On the PPP application, Arben Teta reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $25,000

Business Information - Arben Teta in Rocky Hill, CT

Arben Teta
Rocky Hill, CT
* Full address is redacted to protect the privacy of individuals.

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Hartford County, CT — SBA Office 0156 — Congressional District: CT-01

Similar Companies near Rocky Hill

In the Rocky Hill area, 3 businesses in the "General Freight Trucking, Long-Distance, Less Than Truckload" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 1) and received an average PPP loan of $15,287 (compared to this company's $25,000).

Similar Nearby Businesses Who Received PPP Funding:

Dbts Trucking Services Inc
Rocky Hill, CT

$10,431 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 12,141 businesses in the "General Freight Trucking, Long-Distance, Less Than Truckload" industry received a total of $564.45M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.

PPP recipients in this industry report an average of 4 employees, 300% higher than Arben Teta's reported 1 employees, and received an average PPP loan of $46,492, 86% higher than this company's loan of $25,000.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

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Footnotes & Information

1. Estimations for informational purposes only. 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.

3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.


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Source: www.federalpay.org/paycheck-protection-program/arben-teta-rocky-hill-ct