PPP Loan Data — Normandy Plumbing Heating & Air Conditioning Inc, Brewster, MA
Normandy Plumbing Heating & Air Conditioning Inc
Entity: Subchapter S Corporation
Location: Brewster, MATweet This • Search All PPP Data
Normandy Plumbing Heating & Air Conditioning Inc is a subchapter s corporation located at Po Box 923 in Brewster, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $24,835.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Cape Cod Five Cents Savings Bank
Normandy Plumbing Heating & Air Conditioning Inc in Brewster, MA received a Paycheck Protection Loan of $24,835 through Cape Cod Five Cents Savings Bank, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Normandy Plumbing Heating & Air Conditioning Inc's 2019 payroll expenses are estimated to be at least $119,208 (not accounting for salary amounts > $100k).
Because the 1 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Normandy Plumbing Heating & Air Conditioning Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,835
Business Information - Normandy Plumbing Heating & Air Conditioning Inc in Brewster, MA
Po Box 923
Brewster, MA 2631
Plumbing, Heating, and Air-Conditioning Contractors
NAICS code 238220
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Brewster
In the Brewster area, 7 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 1) and received an average PPP loan of $46,451 (compared to this company's $24,835).
Similar Nearby Businesses Who Received PPP Funding:
Mark Couto Plumbing & Heating, Inc
Flaherty Heating & Air Conditioning, Inc
Paul Jenkins & Sons, Inc
Thomas Plumbing & Heating Inc
Kirk D. Williams
Centerville, Ma, MA
Industry PPP Comparison Statistics
Nationwide, 105,811 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $13.07B 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 10 employees, 900% higher than Normandy Plumbing Heating & Air Conditioning Inc's reported 1 employees, and received an average PPP loan of $123,520, 397% higher than this company's loan of $24,835.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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