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PPP Loan Data — Service Management Group, Shelton, CT

SBA PPP loan data, payroll data, and salaries for Service Management Group
CT

Service Management Group

Entity: Limited Liability Company (LLC)

Industry: Janitorial Services

Location: Shelton, CT

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Service Management Group is a limited liability company (LLC) located at 25 Controls Dr in Shelton, Connecticut that received a Coronavirus-related PPP loan from the SBA of $10,000,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$10M

Jobs Retained:

500

Loan Approved:

2020-04-06

Lender:

PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION

Service Management Group in Shelton, CT received a Paycheck Protection Loan of $10M through PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Service Management Group's total 2019 payroll expenses were approximately $48M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $96,000 per employee1.

Because the loan received by Service Management Group 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 - Service Management Group in Shelton, CT

Service Management Group
25 Controls Dr
Shelton, CT 06484

Business Industry

Janitorial Services (NAICS code 561720)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: CT-04

Similar Companies near Shelton

In the Shelton area, 7 businesses in the "Janitorial Services" industry received a PPP loan. These local businesses reported an average of 73 employees (compared to this company's 500) and received an average PPP loan of $1,437,875 (compared to this company's $10M).

Industry PPP Comparison Statistics

Nationwide, 31,508 businesses in the "Janitorial Services" industry received a total of $2,265,370,248.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 12 employees, 98% lower than Service Management Group's reported 500 employees, and received an average PPP loan of $71,898, 99% lower than this company's loan of $10M.

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.

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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/service-management-group-shelton-ct