PPP Loan Data — Coastal Auto Parts, Inc. - Milbridge, Ellsworth, ME
Coastal Auto Parts, Inc. - Milbridge is a subchapter s corporation located at 92 Downeast Highway in Ellsworth, Maine that received a Coronavirus-related PPP loan from the SBA of $2,743,400.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 330 people during the applicable loan loan period.
$ PPP Loan Information
Lender:FIRST NATIONAL BANK
Coastal Auto Parts, Inc. - Milbridge in Ellsworth, ME received a Paycheck Protection Loan of $2.74M through FIRST NATIONAL BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Coastal Auto Parts, Inc. - Milbridge's total 2019 payroll expenses were approximately $13.17M in order to qualify for the PPP loan amount received.
Based on their reported 330 jobs retained, this equals an estimated average yearly compensation of $39,904 per employee1.
Business Information - Coastal Auto Parts, Inc. - Milbridge in Ellsworth, ME
92 Downeast Highway
Ellsworth, ME 04605
Other Activities Related to Real Estate (NAICS code 531390)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: ME-02
Similar Companies near Ellsworth
In the Ellsworth area, 4 businesses in the "Other Activities Related to Real Estate" industry received a PPP loan. These local businesses reported an average of 83 employees (compared to this company's 330) and received an average PPP loan of $689,684 (compared to this company's $2.74M).
Similar Nearby Businesses Who Received PPP Funding:
John J Bettis
L. Christine Upton
Industry PPP Comparison Statistics
Nationwide, 36,088 businesses in the "Other Activities Related to Real Estate" industry received a total of $2,270,983,687.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 5 employees, 98% lower than Coastal Auto Parts, Inc. - Milbridge's reported 330 employees, and received an average PPP loan of $62,929, 98% lower than this company's loan of $2.74M.
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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