PPP Loan Data — Moody's Co Worker Owned Inc, Gorham, ME
Moody's Co Worker Owned Inc is a subchapter s corporation located at 200 Narragansett St in Gorham, Maine that received a Coronavirus-related PPP loan from the SBA of $3,000,000.00 in April, 2020.
$ PPP Loan Information
Lender:NORWAY SAVINGS BANK
Moody's Co Worker Owned Inc in Gorham, ME received a Paycheck Protection Loan of $3M through NORWAY SAVINGS BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Moody's Co Worker Owned Inc's total 2019 payroll expenses were approximately $14.4M in order to qualify for the PPP loan amount received.
Based on their reported 230 jobs retained, this equals an estimated average yearly compensation of $62,609 per employee1.
Business Information - Moody's Co Worker Owned Inc in Gorham, ME
200 Narragansett St
Gorham, ME 04038
General Automotive Repair (NAICS code 811111)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: ME-01
Similar Companies near Gorham
In the Gorham area, 12 businesses in the "General Automotive Repair" industry received a PPP loan. These local businesses reported an average of 22 employees (compared to this company's 230) and received an average PPP loan of $279,775 (compared to this company's $3M).
Similar Nearby Businesses Who Received PPP Funding:
Portland Tint, Inc.
JB Performance LLC
Carter's Auto Service Inc
Getchells Quality Car Care Inc-Sba Small 7A Term
Lifetime Muffler @ Brake Of Gray
LOU's Auto Repair Inc
Industry PPP Comparison Statistics
Nationwide, 53,447 businesses in the "General Automotive Repair" industry received a total of $2,671,701,258.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 5 employees, 98% lower than Moody's Co Worker Owned Inc's reported 230 employees, and received an average PPP loan of $49,988, 98% lower than this company's loan of $3M.
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, and is published unmodified, as provided by the SBA.
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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