PPP Loan Data — JAN King Inc, Cranston, RI
JAN King Inc is a corporation located at 35 Sockanosset Cross Road in Cranston, Rhode Island that received a Coronavirus-related PPP loan from the SBA of $2,523,800.00 in April, 2020.
The company has reported itself as a White female owned business, and employed at least 240 people during the applicable loan loan period.
$ PPP Loan Information
JAN King Inc in Cranston, RI received a Paycheck Protection Loan of $2.52M through CENTREVILLE BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, JAN King Inc's total 2019 payroll expenses were approximately $12.11M in order to qualify for the PPP loan amount received.
Based on their reported 240 jobs retained, this equals an estimated average yearly compensation of $50,476 per employee1.
Business Information - JAN King Inc in Cranston, RI
Industry PPP Comparison Statistics
Nationwide, 5,156,850 businesses in the "" industry received a total of $522,949,858,572.00 in PPP loans. These businesses account for 100% of total PPP applications submitted, and received 100% of the total PPP funding allocated.
PPP recipients in this industry report an average of 10 employees, 96% lower than JAN King Inc's reported 240 employees, and received an average PPP loan of $101,409, 96% lower than this company's loan of $2.52M.
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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