PPP Loan Data — Solarcommunities, Inc, Waterbury, VT
Solarcommunities, Inc is a corporation located at 442 Us Route 2 in Waterbury, Vermont that received a Coronavirus-related PPP loan from the SBA of $2,591,500.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 165 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Citizens Bank, National Association
Solarcommunities, Inc in Waterbury, VT received a Paycheck Protection Loan of $2.59M through Citizens Bank, National Association, which was approved in April, 2020.
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, Solarcommunities, Inc's 2019 payroll expenses are estimated to be at least $12.44M.
Based on their reported 165 jobs retained, this equals an estimated average yearly compensation of $75,389 per employee1
Reported PPP Proceed Usage:
On the PPP application, Solarcommunities, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,591,500
Business Information - Solarcommunities, Inc in Waterbury, VT
442 Us Route 2
Waterbury, VT 5676
Solar Electric Power Generation
NAICS code 221114
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Waterbury
In the Waterbury area, 5 businesses in the "Solar Electric Power Generation" industry received a PPP loan. These local businesses reported an average of 69 employees (compared to this company's 165) and received an average PPP loan of $991,921 (compared to this company's $2.59M).
Similar Nearby Businesses Who Received PPP Funding:
Green Lantern Development, LLC
Vestmont Partners LLC
Solarcommunities Inc. DBA Suncommon
Industry PPP Comparison Statistics
Nationwide, 2,779 businesses in the "Solar Electric Power Generation" industry received a total of $274.42M 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 8 employees, 95% lower than Solarcommunities, Inc's reported 165 employees, and received an average PPP loan of $98,748, 96% lower than this company's loan of $2.59M.
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Footnotes & Information
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