PPP Loan Data — Robert J Mcnally Funeral Home, Inc, Clinton, MA
Robert J Mcnally Funeral Home, Inc is a subchapter s corporation located at 304 Church St in Clinton, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $46,200.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Clinton Savings Bank
Robert J Mcnally Funeral Home, Inc in Clinton, MA received a Paycheck Protection Loan of $46,200 through Clinton 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 January, 2021.
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, Robert J Mcnally Funeral Home, Inc's 2019 payroll expenses are estimated to be at least $221,760.
Based on their reported 9 jobs retained, this equals an estimated average yearly compensation of $24,640 per employee1
Reported PPP Proceed Usage:
On the PPP application, Robert J Mcnally Funeral Home, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,200
Business Information - Robert J Mcnally Funeral Home, Inc in Clinton, MA
304 Church St
Clinton, MA 1510
Funeral Homes and Funeral Services
NAICS code 812210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 10,120 businesses in the "Funeral Homes and Funeral Services" industry received a total of $621.85M 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 8 employees, 11% lower than Robert J Mcnally Funeral Home, Inc's reported 9 employees, and received an average PPP loan of $61,448, 33% higher than this company's loan of $46,200.
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Footnotes & Information
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