PPP Loan Data — Clinton Nurseries Inc, Westbrook, CT
Clinton Nurseries Inc is a corporation located at 517b Pond Meadow Rd in Westbrook, Connecticut that received a Coronavirus-related PPP loan from the SBA of $2,555,930.00 in April, 2020.
$ PPP Loan Information
Lender:WEBSTER BANK, NATIONAL ASSOCIATION
Clinton Nurseries Inc in Westbrook, CT received a Paycheck Protection Loan of $2.56M through WEBSTER BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Clinton Nurseries Inc's total 2019 payroll expenses were approximately $12.27M in order to qualify for the PPP loan amount received.
Based on their reported 432 jobs retained, this equals an estimated average yearly compensation of $28,399 per employee1.
Business Information - Clinton Nurseries Inc in Westbrook, CT
517b Pond Meadow Rd
Westbrook, CT 06498
Nursery and Tree Production (NAICS code 111421)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: CT-02
Industry PPP Comparison Statistics
Nationwide, 3,010 businesses in the "Nursery and Tree Production" industry received a total of $426,483,038.00 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 18 employees, 96% lower than Clinton Nurseries Inc's reported 432 employees, and received an average PPP loan of $141,689, 94% lower than this company's loan of $2.56M.
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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