PPP Loan Data — Fairfield County Antique And Design Cen-Sba Small 7A Term, Norwalk, CT
Fairfield County Antique And Design Cen-Sba Small 7A Term is a limited liability company (LLC) located at 39 Knight Street in Norwalk, Connecticut that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
The company has reported itself as a White male owned business, and employed at least seven people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:TD Bank, National Association
Fairfield County Antique And Design Cen-Sba Small 7A Term in Norwalk, CT received a Paycheck Protection Loan of $25,000 through TD Bank, National Association, which was approved in May, 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, Fairfield County Antique And Design Cen-Sba Small 7A Term's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $17,143 per employee1
Reported PPP Proceed Usage:
On the PPP application, Fairfield County Antique And Design Cen-Sba Small 7A Term reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Fairfield County Antique And Design Cen-Sba Small 7A Term in Norwalk, CT
39 Knight Street
Norwalk, CT 6851
Used Merchandise Stores
NAICS code 453310
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Norwalk
In the Norwalk area, 3 businesses in the "Used Merchandise Stores" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 7) and received an average PPP loan of $47,400 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
A Yankee Peddler & Loan, LLC
Industry PPP Comparison Statistics
Nationwide, 12,348 businesses in the "Used Merchandise Stores" industry received a total of $577.39M 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 8 employees, 14% higher than Fairfield County Antique And Design Cen-Sba Small 7A Term's reported 7 employees, and received an average PPP loan of $46,760, 87% higher than this company's loan of $25,000.
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Footnotes & Information
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