PPP Loan Data — Joseph Baker, Charlestown, RI
Joseph Baker is a sole proprietorship located in Charlestown, Rhode Island that received a Coronavirus-related PPP loan from the SBA of $25,500.00 in January, 2021.
The company has reported itself as a White male veteran owned business, and employed at least one person during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Joseph Baker in Charlestown, RI received a Paycheck Protection Loan of $25,500 through Centreville Bank, which was approved in January, 2021.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
Reported PPP Proceed Usage:
On the PPP application, Joseph Baker reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,500
Business Information - Joseph Baker in Charlestown, RI
* Full address is redacted to protect the privacy of individuals.
Ship Building and Repairing
NAICS code 336611
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Charlestown
In the Charlestown area, 3 businesses in the "Ship Building and Repairing" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 1) and received an average PPP loan of $38,872 (compared to this company's $25,500).
Similar Nearby Businesses Who Received PPP Funding:
Joseph A. Baker
Good Shepherd Fisheries Inc
Industry PPP Comparison Statistics
Nationwide, 1,250 businesses in the "Ship Building and Repairing" industry received a total of $395.19M 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 25 employees, 2400% higher than Joseph Baker's reported 1 employees, and received an average PPP loan of $316,151, 1140% higher than this company's loan of $25,500.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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