PPP Loan Data — Roche Locksmith, Inc, York, ME
Roche Locksmith, Inc is a corporation located at 11 Main St in York, Maine that received a Coronavirus-related PPP loan from the SBA of $46,500.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:People's United Bank, National Association
Roche Locksmith, Inc in York, ME received a Paycheck Protection Loan of $46,500 through People's United Bank, National Association, 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 April, 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, Roche Locksmith, Inc's 2019 payroll expenses are estimated to be at least $223,200.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $44,640 per employee1
Reported PPP Proceed Usage:
On the PPP application, Roche Locksmith, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,500
Business Information - Roche Locksmith, Inc in York, ME
11 Main St
York, ME 3909
NAICS code 561622
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, 4,295 businesses in the "Locksmiths" industry received a total of $177.18M 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 5 employees, the same amount reported by Roche Locksmith, Inc and received an average PPP loan of $41,253, 11% lower than this company's loan of $46,500.
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Footnotes & Information
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