PPP Loan Data — Jubilee Association Of Maryland, Inc, Kensington, MD
Jubilee Association Of Maryland, Inc
Entity: Limited Liability Company (LLC)
Location: Kensington, MDTweet This • Search All PPP Data
Jubilee Association Of Maryland, Inc is a limited liability company (LLC) located at 10408 Montgomery Avenue in Kensington, Maryland that received a Coronavirus-related PPP loan from the SBA of $2,132,500.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Manufacturers and Traders Trust Company
Jubilee Association Of Maryland, Inc in Kensington, MD received a Paycheck Protection Loan of $2.13M through Manufacturers and Traders Trust Company, 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, Jubilee Association Of Maryland, Inc's 2019 payroll expenses are estimated to be at least $10.24M.
Based on their reported 271 jobs retained, this equals an estimated average yearly compensation of $37,771 per employee1
Reported PPP Proceed Usage:
On the PPP application, Jubilee Association Of Maryland, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,953,790
- Utilities: $35,200
- Mortgage Interest: $3,800
- Rent: $15,000
- Health Care: $124,710
Business Information - Jubilee Association Of Maryland, Inc in Kensington, MD
10408 Montgomery Avenue
Kensington, MD 20895
Residential Intellectual and Developmental Disability Facilities
NAICS code 623210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 3,014 businesses in the "Residential Intellectual and Developmental Disability Facilities" industry received a total of $1.28B 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 58 employees, 79% lower than Jubilee Association Of Maryland, Inc's reported 271 employees, and received an average PPP loan of $424,200, 80% lower than this company's loan of $2.13M.
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Footnotes & Information
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