PPP Loan Data — Munroe Wire & Cable, Lancaster, MA
Munroe Wire & Cable is a corporation located at 767 Sterling Rd in Lancaster, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $1,888,860.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 115 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:TD Bank, National Association
Munroe Wire & Cable in Lancaster, MA received a Paycheck Protection Loan of $1.89M through TD Bank, National Association, which was approved in April, 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, Munroe Wire & Cable's 2019 payroll expenses are estimated to be at least $9.07M.
Based on their reported 115 jobs retained, this equals an estimated average yearly compensation of $78,839 per employee1
Reported PPP Proceed Usage:
On the PPP application, Munroe Wire & Cable reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,888,860
Business Information - Munroe Wire & Cable in Lancaster, MA
767 Sterling Rd
Lancaster, MA 1523
Copper Rolling, Drawing, Extruding, and Alloying
NAICS code 331420
Business Owner Demographics
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, 128 businesses in the "Copper Rolling, Drawing, Extruding, and Alloying" industry received a total of $80.96M 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 50 employees, 57% lower than Munroe Wire & Cable's reported 115 employees, and received an average PPP loan of $632,499, 67% lower than this company's loan of $1.89M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!