PPP Loan Data — Shoreline Boiler And Welding LLC. Shoreline Boiler LLC, Westbrook, CT
Shoreline Boiler And Welding LLC. Shoreline Boiler LLC is a limited liability company (LLC) located at 43 Pepperidge Ave in Westbrook, Connecticut that received a Coronavirus-related PPP loan from the SBA of $46,900.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Citizens Bank, National Association
Shoreline Boiler And Welding LLC. Shoreline Boiler LLC in Westbrook, CT received a Paycheck Protection Loan of $46,900 through Citizens Bank, National Association, which was approved in January, 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, Shoreline Boiler And Welding LLC. Shoreline Boiler LLC's 2019 payroll expenses are estimated to be at least $225,120.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $75,040 per employee1
Reported PPP Proceed Usage:
On the PPP application, Shoreline Boiler And Welding LLC. Shoreline Boiler LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,900
Business Information - Shoreline Boiler And Welding LLC. Shoreline Boiler LLC in Westbrook, CT
43 Pepperidge Ave
Westbrook, CT 6498
Power Boiler and Heat Exchanger Manufacturing
NAICS code 332410
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Westbrook
In the Westbrook area, 3 businesses in the "Power Boiler and Heat Exchanger Manufacturing" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 3) and received an average PPP loan of $42,833 (compared to this company's $46,900).
Similar Nearby Businesses Who Received PPP Funding:
Shoreline Boiler And Welding, LLC
Industry PPP Comparison Statistics
Nationwide, 319 businesses in the "Power Boiler and Heat Exchanger Manufacturing" industry received a total of $173.77M 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 38 employees, 1167% higher than Shoreline Boiler And Welding LLC. Shoreline Boiler LLC's reported 3 employees, and received an average PPP loan of $544,731, 1061% higher than this company's loan of $46,900.
FederalPay's PPP Information Policy
Footnotes & Information
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