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PPP Loan Data — Sellia Corporation, Spencer, MA

SBA PPP loan data, payroll data, and salaries for Sellia Corporation
MA

Sellia Corporation

Entity: Corporation

Industry: Limited-Service Restaurants

Location: Spencer, MA

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Sellia Corporation is a corporation located at 8 Lake St in Spencer, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $2,865,400.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.87M

Jobs Retained:

0 Unreported

Loan Approved:

2020-04-03

Lender:

CORNERSTONE BANK

Sellia Corporation in Spencer, MA received a Paycheck Protection Loan of $2.87M through CORNERSTONE BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Sellia Corporation's total 2019 payroll expenses were approximately $13.75M in order to qualify for the PPP loan amount received.

Unlike most businesses, Sellia Corporation's PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.

Because the loan received by Sellia Corporation is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Sellia Corporation in Spencer, MA

Sellia Corporation
8 Lake St
Spencer, MA 01562

Business Industry

Limited-Service Restaurants (NAICS code 722513)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MA-02

Similar Companies near Spencer

In the Spencer area, 6 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 0) and received an average PPP loan of $533,417 (compared to this company's $2.87M).

Industry PPP Comparison Statistics

Nationwide, 79,996 businesses in the "Limited-Service Restaurants" industry received a total of $9,671,819,152.00 in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 23 employees, and received an average PPP loan of $120,904, 96% lower than this company's loan of $2.87M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan. All information displayed on this page is publicly available information under PPP loan guidelines, and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/sellia-corporation-spencer-ma