PPP Loan Data — CWC & Associates, LLC, Essex, CT
CWC & Associates, LLC is a corporation located at 190 Westbrook Rd Suite 3b in Essex, Connecticut that received a Coronavirus-related PPP loan from the SBA of $45,733.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Essex Savings Bank
CWC & Associates, LLC in Essex, CT received a Paycheck Protection Loan of $45,733 through Essex Savings Bank, which was approved in April, 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, CWC & Associates, LLC's 2019 payroll expenses are estimated to be at least $219,518.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $54,880 per employee1
Reported PPP Proceed Usage:
On the PPP application, CWC & Associates, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $43,352
- Utilities: $1,266
- Rent: $1,115
Business Information - CWC & Associates, LLC in Essex, CT
190 Westbrook Rd Suite 3b
Essex, CT 6426
NAICS code 522220
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 16,168 businesses in the "Sales Financing" industry received a total of $411.76M 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 2 employees, 50% lower than CWC & Associates, LLC's reported 4 employees, and received an average PPP loan of $25,468, 44% lower than this company's loan of $45,733.
FederalPay's PPP Information Policy
Footnotes & Information
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