PPP Loan Data — M. S. Herman & Company, LLC, Danbury, CT
M. S. Herman & Company, LLC is a limited liability company (LLC) located at 12 South Street Rear in Danbury, Connecticut that received a Coronavirus-related PPP loan from the SBA of $46,406.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least four people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
M. S. Herman & Company, LLC in Danbury, CT received a Paycheck Protection Loan of $46,406 through Customers Bank, which was approved in April, 2020.
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, M. S. Herman & Company, LLC's 2019 payroll expenses are estimated to be at least $222,749.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $55,687 per employee1
Reported PPP Proceed Usage:
On the PPP application, M. S. Herman & Company, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,406
Business Information - M. S. Herman & Company, LLC in Danbury, CT
12 South Street Rear
Danbury, CT 6810
All Other Automotive Repair and Maintenance
NAICS code 811198
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Danbury
In the Danbury area, 14 businesses in the "All Other Automotive Repair and Maintenance" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 4) and received an average PPP loan of $24,737 (compared to this company's $46,406).
Similar Nearby Businesses Who Received PPP Funding:
Ultimate Restoration LLC
C & S Auto And Truck Repair LLC
Scotti Motor Sports Advanced
Ammo Auto Care, Inc
Five Star Maintenance
Danbury Autowerks LLC
Industry PPP Comparison Statistics
Nationwide, 17,942 businesses in the "All Other Automotive Repair and Maintenance" industry received a total of $688.12M 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 4 employees, the same amount reported by M. S. Herman & Company, LLC and received an average PPP loan of $38,352, 17% lower than this company's loan of $46,406.
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Footnotes & Information
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