PPP Loan Data — Creed Monarch Inc., New Britain, CT
Creed Monarch Inc. is a corporation located at One Pucci Park in New Britain, Connecticut that received a Coronavirus-related PPP loan from the SBA of $3,730,610.00 in April, 2020.
$ PPP Loan Information
Lender:PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION
Creed Monarch Inc. received a Paycheck Protection Loan of $3.73M through PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Creed Monarch Inc.'s total 2019 payroll expenses were approximately $17.91M in order to qualify for the PPP loan amount received.
Based on their reported 270 jobs retained, this equals an estimated average yearly compensation of $66,322 per employee1.
Business Information - Creed Monarch Inc. in New Britain, CT
One Pucci Park
New Britain, CT 6051
Precision Turned Product Manufacturing (NAICS code 332721)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: CT-05
Similar Companies near New Britain
In the New Britain area, 2 businesses in the "Precision Turned Product Manufacturing" industry received a PPP loan. These local businesses reported an average of 146 employees (compared to this company's 270) and received an average PPP loan of $2,016,083 (compared to this company's $3.73M).
Similar Nearby Businesses Who Received PPP Funding:
D.S.O Manufacturing Co., Inc.
New Britain, CT
Industry PPP Comparison Statistics
Nationwide, 903 businesses in the "Precision Turned Product Manufacturing" industry received a total of $306,716,117.00 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 23 employees, 91% lower than Creed Monarch Inc.'s reported 270 employees, and received an average PPP loan of $339,663, 91% lower than this company's loan of $3.73M.
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Footnotes & Information
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