PPP Loan Data — Goulston Technologies, Inc, Monroe, NC
Goulston Technologies, Inc
Location: Monroe, NCTweet This • Search All PPP Data
Goulston Technologies, Inc is a corporation located at 700 North Johnson Street in Monroe, North Carolina that received a Coronavirus-related PPP loan from the SBA of $2,009,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:PNC Bank, National Association
Goulston Technologies, Inc in Monroe, NC received a Paycheck Protection Loan of $2.01M through PNC Bank, National Association, 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, Goulston Technologies, Inc's 2019 payroll expenses are estimated to be at least $9.64M.
Based on their reported 123 jobs retained, this equals an estimated average yearly compensation of $78,400 per employee1
Reported PPP Proceed Usage:
On the PPP application, Goulston Technologies, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,009,000
Business Information - Goulston Technologies, Inc in Monroe, NC
700 North Johnson Street
Monroe, NC 28110
All Other Miscellaneous Chemical Product and Preparation Manufacturing
NAICS code 325998
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Monroe
In the Monroe area, 2 businesses in the "All Other Miscellaneous Chemical Product and Preparation Manufacturing" industry received a PPP loan. These local businesses reported an average of 64 employees (compared to this company's 123) and received an average PPP loan of $1,033,513 (compared to this company's $2.01M).
Similar Nearby Businesses Who Received PPP Funding:
Tire Slick Inc
Industry PPP Comparison Statistics
Nationwide, 1,857 businesses in the "All Other Miscellaneous Chemical Product and Preparation Manufacturing" industry received a total of $411.09M 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 18 employees, 85% lower than Goulston Technologies, Inc's reported 123 employees, and received an average PPP loan of $221,373, 89% lower than this company's loan of $2.01M.
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