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PPP Loan Data — Magnolia Management Company, LLC, East Longmeadow, MA

SBA PPP loan data, payroll data, and salaries for Magnolia Management Company, LLC
MA

Magnolia Management Company, LLC

Entity: Limited Liability Company (LLC)

Industry: Assisted Living Facilities for the Elderly

Location: East Longmeadow, MA

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Magnolia Management Company, LLC is a limited liability company (LLC) located at 200 North Main St in East Longmeadow, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $3,201,300.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.2M

Jobs Retained:

500

Loan Approved:

2020-04-27

Lender:

NEW VALLEY BANK & TRUST

Magnolia Management Company, LLC received a Paycheck Protection Loan of $3.2M through NEW VALLEY BANK & TRUST, which was approved in April, 2020.

Based on standard PPP eligibility rules, Magnolia Management Company, LLC's total 2019 payroll expenses were approximately $15.37M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $30,732 per employee1.

Because the loan received by Magnolia Management Company, LLC 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 - Magnolia Management Company, LLC in East Longmeadow, MA

Magnolia Management Company, LLC
200 North Main St
East Longmeadow, MA 1028

Business Industry

Assisted Living Facilities for the Elderly (NAICS code 623312)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MA-01

Similar Companies near East Longmeadow

In the East Longmeadow area, 2 businesses in the "Assisted Living Facilities for the Elderly" industry received a PPP loan. These local businesses reported an average of 288 employees (compared to this company's 500) and received an average PPP loan of $1,725,295 (compared to this company's $3.2M).

Industry PPP Comparison Statistics

Nationwide, 6,544 businesses in the "Assisted Living Facilities for the Elderly" industry received a total of $1,444,187,946.00 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 32 employees, 94% lower than Magnolia Management Company, LLC's reported 500 employees, and received an average PPP loan of $220,689, 93% lower than this company's loan of $3.2M.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) 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/magnolia-management-company-llc-east-longmeadow-ma