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PPP Loan Data — Laticrete International, Inc., Bethany, CT

SBA PPP loan data, payroll data, and salaries for Laticrete International, Inc.
CT

Laticrete International, Inc.

Entity: Subchapter S Corporation

Industry: Paint and Coating Manufacturing

Location: Bethany, CT

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Laticrete International, Inc. is a subchapter s corporation located at 1 Laticrete Park North in Bethany, Connecticut that received a Coronavirus-related PPP loan from the SBA of $9,872,700.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$9.87M

Jobs Retained:

0 Unreported

Loan Approved:

2020-04-15

Lender:

CITIZENS BANK, NATIONAL ASSOCIATION

Laticrete International, Inc. in Bethany, CT received a Paycheck Protection Loan of $9.87M through CITIZENS BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Laticrete International, Inc.'s total 2019 payroll expenses were approximately $47.39M in order to qualify for the PPP loan amount received.

Unlike most businesses, Laticrete International, Inc.'s PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.

Because the loan received by Laticrete International, Inc. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Laticrete International, Inc. in Bethany, CT

Laticrete International, Inc.
1 Laticrete Park North
Bethany, CT 6524

Business Industry

Paint and Coating Manufacturing (NAICS code 325510)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: CT-03

Industry PPP Comparison Statistics

Nationwide, 1,048 businesses in the "Paint and Coating Manufacturing" industry received a total of $271,012,887.00 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 18 employees, and received an average PPP loan of $258,600, 97% lower than this company's loan of $9.87M.

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.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/laticrete-international-inc-bethany-ct