PPP Loan Data — Robert W. Michaud CPA, Fall River, MA
Robert W. Michaud CPA is a sole proprietorship located at 1467 South Main Street in Fall River, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Rockland Trust Company
Robert W. Michaud CPA in Fall River, MA received a Paycheck Protection Loan of $25,000 through Rockland Trust Company, 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 March, 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 W. Michaud CPA's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Robert W. Michaud CPA reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Robert W. Michaud CPA in Fall River, MA
1467 South Main Street
Fall River, MA 2724
Offices of Certified Public Accountants
NAICS code 541211
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Fall River
In the Fall River area, 3 businesses in the "Offices of Certified Public Accountants" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 3) and received an average PPP loan of $25,193 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Csep Innovation Consulting And Management Inc
Fall River, MA
Fall River, MA
Industry PPP Comparison Statistics
Nationwide, 57,013 businesses in the "Offices of Certified Public Accountants" industry received a total of $4.21B 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 6 employees, 100% higher than Robert W. Michaud CPA's reported 3 employees, and received an average PPP loan of $73,772, 195% higher than this company's loan of $25,000.
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Footnotes & Information
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