PPP Loan Data — Kaloutas & Co., Inc, Peabody, MA
Kaloutas & Co., Inc is a subchapter s corporation located at 11 Railroad Ave in Peabody, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $1,607,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Enterprise Bank and Trust Company
Kaloutas & Co., Inc in Peabody, MA received a Paycheck Protection Loan of $1.61M through Enterprise Bank and Trust Company, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in April, 2021.
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, Kaloutas & Co., Inc's 2019 payroll expenses are estimated to be at least $7.71M.
Based on their reported 85 jobs retained, this equals an estimated average yearly compensation of $90,748 per employee1
Reported PPP Proceed Usage:
On the PPP application, Kaloutas & Co., Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,372,000
- Utilities: $35,000
- Rent: $95,000
- Health Care: $105,000
Business Information - Kaloutas & Co., Inc in Peabody, MA
11 Railroad Ave
Peabody, MA 1960
Painting and Wall Covering Contractors
NAICS code 238320
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Peabody
In the Peabody area, 23 businesses in the "Painting and Wall Covering Contractors" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 85) and received an average PPP loan of $99,052 (compared to this company's $1.61M).
Similar Nearby Businesses Who Received PPP Funding:
Roland Painting LLC
Color Craft Corporation
Swick Painting LLC
John Bettencourt DBA None
First Class Painting Co Inc
Northeast Painter And Construction LLC
Industry PPP Comparison Statistics
Nationwide, 50,571 businesses in the "Painting and Wall Covering Contractors" industry received a total of $2.46B 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 5 employees, 94% lower than Kaloutas & Co., Inc's reported 85 employees, and received an average PPP loan of $48,668, 97% lower than this company's loan of $1.61M.
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Footnotes & Information
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