Catic Financial, Inc. in Rocky Hill, CT - SBA PPP Loan Data (Paycheck Protection Program)

PPP Loan Data — Catic Financial, Inc., Rocky Hill, CT

Catic Financial, Inc.

Entity: Corporation

Industry: Title Abstract and Settlement Offices

Location: Rocky Hill, CT

Catic Financial, Inc. is a corporation located at 101 Corporate Place in Rocky Hill, Connecticut that received a Coronavirus-related PPP loan from the SBA of $3,637,707.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.64M

Jobs Retained:

184

Loan Approved:

2020-04-07

Lender:

CUSTOMERS BANK

Catic Financial, Inc. in Rocky Hill, CT received a Paycheck Protection Loan of $3.64M through CUSTOMERS BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Catic Financial, Inc.'s total 2019 payroll expenses were approximately $17.46M in order to qualify for the PPP loan amount received.

Based on their reported 184 jobs retained, this equals an estimated average yearly compensation of $94,897 per employee¹.

Because the loan received by Catic Financial, Inc. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Catic Financial, Inc. in Rocky Hill, CT

Catic Financial, Inc.
101 Corporate Place
Rocky Hill, CT 6067

Business Industry

Title Abstract and Settlement Offices (NAICS code 541191)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: CT-01

Industry PPP Comparison Statistics

Nationwide, 4,290 businesses in the "Title Abstract and Settlement Offices" industry received a total of $440,133,288.00 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 8 employees, 96% lower than Catic Financial, Inc.'s reported 184 employees, and received an average PPP loan of $102,595, 97% lower than this company's loan of $3.64M.

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.

Search FederalPay's Full PPP Loan Database

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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