PPP Loan Data — Maltose Express, LLC, Monroe, CT
Maltose Express, LLC is a limited liability company (LLC) located at 246 Main St in Monroe, Connecticut that received a Coronavirus-related PPP loan from the SBA of $25,472.00 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:Ongoing Loan
Lender:People's United Bank, National Association
Maltose Express, LLC in Monroe, CT received a Paycheck Protection Loan of $25,472 through People's United Bank, National Association, which was approved in April, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, Maltose Express, LLC's 2019 payroll expenses are estimated to be at least $122,266.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,755 per employee1
Reported PPP Proceed Usage:
On the PPP application, Maltose Express, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,472
Business Information - Maltose Express, LLC in Monroe, CT
246 Main St
Monroe, CT 6468
NAICS code 312120
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 Monroe
In the Monroe area, 3 businesses in the "Breweries" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 3) and received an average PPP loan of $21,049 (compared to this company's $25,472).
Similar Nearby Businesses Who Received PPP Funding:
Veracious Brewing Company LLC
Industry PPP Comparison Statistics
Nationwide, 5,425 businesses in the "Breweries" industry received a total of $608.38M 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 17 employees, 467% higher than Maltose Express, LLC's reported 3 employees, and received an average PPP loan of $112,144, 340% higher than this company's loan of $25,472.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!