PPP Loan Data — Greystone Of Lincoln Inc, Lincoln, RI
Greystone Of Lincoln Inc is a subchapter s corporation located at 7 Wellington Rd in Lincoln, Rhode Island that received a Coronavirus-related PPP loan from the SBA of $5,171,692.00 in April, 2020.
$ PPP Loan Information
Lender:TD BANK, NATIONAL ASSOCIATION
Greystone Of Lincoln Inc in Lincoln, RI received a Paycheck Protection Loan of $5.17M through TD BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Greystone Of Lincoln Inc's total 2019 payroll expenses were approximately $24.82M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $49,648 per employee1.
Business Information - Greystone Of Lincoln Inc in Lincoln, RI
7 Wellington Rd
Lincoln, RI 02865
Machine Shops (NAICS code 332710)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: RI-01
Similar Companies near Lincoln
In the Lincoln area, 3 businesses in the "Machine Shops" industry received a PPP loan. These local businesses reported an average of 186 employees (compared to this company's 500) and received an average PPP loan of $1,974,294 (compared to this company's $5.17M).
Similar Nearby Businesses Who Received PPP Funding:
D&B Machining, Inc.
American Tool Company
Industry PPP Comparison Statistics
Nationwide, 9,651 businesses in the "Machine Shops" industry received a total of $1,842,411,346.00 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 14 employees, 97% lower than Greystone Of Lincoln Inc's reported 500 employees, and received an average PPP loan of $190,904, 96% lower than this company's loan of $5.17M.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan. All information displayed on this page is publicly available information under PPP loan guidelines, and is published unmodified, as provided by the SBA.
Footnotes & Information
1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
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