PPP Loan Data — Paul G. White Tile Co., Inc, Portland, ME
Paul G. White Tile Co., Inc is a corporation located at 444 Riverside Industrial Parkway in Portland, Maine that received a Coronavirus-related PPP loan from the SBA of $1,741,400.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bangor Savings Bank
Paul G. White Tile Co., Inc in Portland, ME received a Paycheck Protection Loan of $1.74M through Bangor Savings Bank, 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 November, 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, Paul G. White Tile Co., Inc's 2019 payroll expenses are estimated to be at least $8.36M.
Based on their reported 136 jobs retained, this equals an estimated average yearly compensation of $61,461 per employee1
Reported PPP Proceed Usage:
On the PPP application, Paul G. White Tile Co., Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,741,400
Business Information - Paul G. White Tile Co., Inc in Portland, ME
444 Riverside Industrial Parkway
Portland, ME 4103
Floor Covering Stores
NAICS code 442210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 8,871 businesses in the "Floor Covering Stores" industry received a total of $765.8M 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 9 employees, 93% lower than Paul G. White Tile Co., Inc's reported 136 employees, and received an average PPP loan of $86,327, 95% lower than this company's loan of $1.74M.
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Footnotes & Information
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