PPP Loan Data — Malkin & Sons, Danvers, MA
Malkin & Sons is a sole proprietorship located at 180 Dayton St in Danvers, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $45,775.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Malkin & Sons in Danvers, MA received a Paycheck Protection Loan of $45,775 through Eastern Bank, 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, Malkin & Sons' 2019 payroll expenses are estimated to be at least $219,720.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $73,240 per employee1
Reported PPP Proceed Usage:
On the PPP application, Malkin & Sons reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,775
Business Information - Malkin & Sons in Danvers, MA
180 Dayton St
Danvers, MA 1923
All Other Specialty Trade Contractors
NAICS code 238990
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Danvers
In the Danvers area, 18 businesses in the "All Other Specialty Trade Contractors" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 3) and received an average PPP loan of $92,382 (compared to this company's $45,775).
Similar Nearby Businesses Who Received PPP Funding:
Titan Drilling Specialists, Inc
Patriot Fence Crafters, Inc
Industrial Boiler And Mechanical Service, LLC
Peter F. Depesa
CRJ Enterprise Corp
Construction & Telecommunication Services Inc
Andrew Ristick DBA A.s.r
Industry PPP Comparison Statistics
Nationwide, 93,400 businesses in the "All Other Specialty Trade Contractors" industry received a total of $8.04B 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 8 employees, 167% higher than Malkin & Sons' reported 3 employees, and received an average PPP loan of $86,076, 88% higher than this company's loan of $45,775.
FederalPay's PPP Information Policy
Footnotes & Information
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