PPP Loan Data — Garvey & Garvey, Inc, Ludlow, VT
Garvey & Garvey, Inc is a corporation located at 71 High St P.o. Box 168 in Ludlow, Vermont that received a Coronavirus-related PPP loan from the SBA of $46,200.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Garvey & Garvey, Inc in Ludlow, VT received a Paycheck Protection Loan of $46,200 through Berkshire Bank, which was approved in April, 2020.
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, Garvey & Garvey, Inc's 2019 payroll expenses are estimated to be at least $221,760.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $27,720 per employee1
Reported PPP Proceed Usage:
On the PPP application, Garvey & Garvey, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,200
Business Information - Garvey & Garvey, Inc in Ludlow, VT
71 High St P.o. Box 168
Ludlow, VT 5149
Residential Property Managers
NAICS code 531311
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Ludlow
In the Ludlow area, 4 businesses in the "Residential Property Managers" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 8) and received an average PPP loan of $22,450 (compared to this company's $46,200).
Similar Nearby Businesses Who Received PPP Funding:
Scott Baitz Property Management
B & L Property Management LLC
Okemo Valley Management Services, Inc
Industry PPP Comparison Statistics
Nationwide, 36,628 businesses in the "Residential Property Managers" industry received a total of $3.05B 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 9 employees, 13% higher than Garvey & Garvey, Inc's reported 8 employees, and received an average PPP loan of $83,394, 81% higher than this company's loan of $46,200.
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Footnotes & Information
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