PPP Loan Data — Rock Scholastics LLC, Ivoryton, CT
Rock Scholastics LLC is a corporation located at 18 Carol Drive in Ivoryton, Connecticut that received a Coronavirus-related PPP loan from the SBA of $24,865.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Webster Bank, National Association
Rock Scholastics LLC in Ivoryton, CT received a Paycheck Protection Loan of $24,865 through Webster 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, Rock Scholastics LLC's 2019 payroll expenses are estimated to be at least $119,352.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $59,676 per employee1
Reported PPP Proceed Usage:
On the PPP application, Rock Scholastics LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,865
Business Information - Rock Scholastics LLC in Ivoryton, CT
18 Carol Drive
Ivoryton, CT 6442
NAICS code 448310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Ivoryton
In the Ivoryton area, 5 businesses in the "Jewelry Stores" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 2) and received an average PPP loan of $14,491 (compared to this company's $24,865).
Similar Nearby Businesses Who Received PPP Funding:
Ellie Carleton Selections LLC
CMS Premium Products, LLC
Industry PPP Comparison Statistics
Nationwide, 22,187 businesses in the "Jewelry Stores" industry received a total of $956.02M 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, 150% higher than Rock Scholastics LLC's reported 2 employees, and received an average PPP loan of $43,089, 73% higher than this company's loan of $24,865.
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Footnotes & Information
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