PPP Loan Data — CM Masonry LTD, Cumberland, RI
CM Masonry LTD
Entity: Subchapter S Corporation
Location: Cumberland, RITweet This • Search All PPP Data
CM Masonry LTD is a subchapter s corporation located at 82 Fairview Ave in Cumberland, Rhode Island that received a Coronavirus-related PPP loan from the SBA of $25,100.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Citizens Bank, National Association
CM Masonry LTD in Cumberland, RI received a Paycheck Protection Loan of $25,100 through Citizens 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.
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, CM Masonry LTD's 2019 payroll expenses are estimated to be at least $120,480.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,240 per employee1
Reported PPP Proceed Usage:
On the PPP application, CM Masonry LTD reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,100
Business Information - CM Masonry LTD in Cumberland, RI
82 Fairview Ave
Cumberland, RI 2864
Brick, Stone, and Related Construction Material Merchant Wholesalers
NAICS code 423320
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Cumberland
In the Cumberland area, 2 businesses in the "Brick, Stone, and Related Construction Material Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 2) and received an average PPP loan of $25,100 (compared to this company's $25,100).
Similar Nearby Businesses Who Received PPP Funding:
CM Masonry LTD
Industry PPP Comparison Statistics
Nationwide, 6,433 businesses in the "Brick, Stone, and Related Construction Material Merchant Wholesalers" industry received a total of $495.43M 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, 250% higher than CM Masonry LTD's reported 2 employees, and received an average PPP loan of $77,014, 207% higher than this company's loan of $25,100.
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