PPP Loan Data — Ciao Bella LLC, Madison, CT
Ciao Bella LLC is a corporation located at 698 Boston Post Rd in Madison, Connecticut that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Ciao Bella LLC in Madison, CT received a Paycheck Protection Loan of $25,000 through Bank of America, National Association, which was approved in May, 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, Ciao Bella LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Ciao Bella LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Ciao Bella LLC in Madison, CT
698 Boston Post Rd
Madison, CT 6443
Greeting Card Publishers
NAICS code 511191
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 206 businesses in the "Greeting Card Publishers" industry received a total of $17.67M 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 7 employees, 75% higher than Ciao Bella LLC's reported 4 employees, and received an average PPP loan of $85,769, 243% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
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