PPP Loan Data — Mclaughlin & Moran, Inc, Cranston, RI
Mclaughlin & Moran, Inc
Location: Cranston, RITweet This • Search All PPP Data
Mclaughlin & Moran, Inc is a corporation located at 40 Slater Road in Cranston, Rhode Island that received a Coronavirus-related PPP loan from the SBA of $1,764,900.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 95 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:The Washington Trust Company of Westerly
Mclaughlin & Moran, Inc in Cranston, RI received a Paycheck Protection Loan of $1.76M through The Washington Trust Company of Westerly, 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 December, 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, Mclaughlin & Moran, Inc's 2019 payroll expenses are estimated to be at least $8.47M.
Based on their reported 95 jobs retained, this equals an estimated average yearly compensation of $89,174 per employee1
Reported PPP Proceed Usage:
On the PPP application, Mclaughlin & Moran, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,764,900
Business Information - Mclaughlin & Moran, Inc in Cranston, RI
40 Slater Road
Cranston, RI 2920
Wine and Distilled Alcoholic Beverage Merchant Wholesalers
NAICS code 424820
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
Industry PPP Comparison Statistics
Nationwide, 3,421 businesses in the "Wine and Distilled Alcoholic Beverage Merchant Wholesalers" industry received a total of $468.84M 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 12 employees, 87% lower than Mclaughlin & Moran, Inc's reported 95 employees, and received an average PPP loan of $137,047, 92% lower than this company's loan of $1.76M.
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Footnotes & Information
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