PPP Loan Data — Marc Inc Of Manchester, Manchester, CT
Marc Inc Of Manchester
Location: Manchester, CTTweet This • Search All PPP Data
Marc Inc Of Manchester is a corporation located at 151 Sheldon Rd in Manchester, Connecticut that received a Coronavirus-related PPP loan from the SBA of $2,005,400.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:People's United Bank, National Association
Marc Inc Of Manchester in Manchester, CT received a Paycheck Protection Loan of $2.01M 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, Marc Inc Of Manchester's 2019 payroll expenses are estimated to be at least $9.63M.
Based on their reported 359 jobs retained, this equals an estimated average yearly compensation of $26,813 per employee1
Reported PPP Proceed Usage:
On the PPP application, Marc Inc Of Manchester reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,005,400
Business Information - Marc Inc Of Manchester in Manchester, CT
151 Sheldon Rd
Manchester, CT 6042
Services for the Elderly and Persons with Disabilities
NAICS code 624120
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 13,270 businesses in the "Services for the Elderly and Persons with Disabilities" industry received a total of $2.13B 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 27 employees, 92% lower than Marc Inc Of Manchester's reported 359 employees, and received an average PPP loan of $160,784, 92% lower than this company's loan of $2.01M.
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