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PPP Loan Data — Stanley Tree Service Inc,
Smithfield, RI
Stanley Tree Service Inc
Entity: Corporation
Industry: Landscaping Services
Location: Smithfield, RI
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Stanley Tree Service Inc is a corporation located at 275 Washington Hwy in Smithfield, Rhode Island that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.
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PPP Loan Information
Loan #3535188510
Loan Size:
Jobs Retained:
221Loan Approved:
2021-02-24Loan Status:
Ongoing LoanLender:
Eastern BankStanley Tree Service Inc in Smithfield, RI received a Paycheck Protection Loan of $2M through Eastern Bank, which was approved in February, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Stanley Tree Service Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 221 jobs retained, this equals an estimated average yearly compensation of $43,439 per employee1
Reported PPP Proceed Usage:
On the PPP application, Stanley Tree Service Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,998
Business Information - Stanley Tree Service Inc in Smithfield, RI
275 Washington Hwy
Smithfield, RI 2917
Business Industry:
Landscaping Services
NAICS code 561730
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Smithfield
In the Smithfield area, 17 businesses in the "Landscaping Services" industry received a PPP loan. These local businesses reported an average of 29 employees (compared to this company's 221) and received an average PPP loan of $323,034 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Greenwave Landscape & Horticulture Service, LLC
Rumford, RI
RI Tree And Landscape LLC
Smithfield, RI
CJ Tree Inc
Smithfield, RI
Rainone Landscaping Inc
Smithfield, RI
Above & Beyond Tree Service, LLC
Smithfield, RI
Lawrence Siravo
Rumford, RI
Larchmere Landscaping Inc
Rumford, RI
Horizon Landscaping LLC
Smithfield, RI
GLM Construction, LLC
Smithfield, RI
Industry PPP Comparison Statistics
Nationwide, 131,953 businesses in the "Landscaping Services" industry received a total of $5.9B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 6 employees, 97% lower than Stanley Tree Service Inc's reported 221 employees, and received an average PPP loan of $44,711, 98% lower than this company's loan of $2M.
Stanley Tree Service Inc
Entity: Corporation
Industry: Landscaping Services
Location: Smithfield, RI
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Stanley Tree Service Inc is a corporation located at 275 George Washington Highway in Smithfield, Rhode Island that received a Coronavirus-related PPP loan from the SBA of $2,700,000.00 in April, 2020.
The company has reported itself as a female owned business, and employed at least 200 people during the applicable loan loan period.
$
PPP Loan Information
Loan #5849647000
Loan Size:
Jobs Retained:
200Loan Approved:
2020-04-06Loan Status:
Paid in Full or ForgivenLender:
HarborOne BankStanley Tree Service Inc in Smithfield, RI received a Paycheck Protection Loan of $2.7M through HarborOne Bank, 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 August, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Stanley Tree Service Inc's 2019 payroll expenses are estimated to be at least $12.96M.
Based on their reported 200 jobs retained, this equals an estimated average yearly compensation of $64,800 per employee1
Reported PPP Proceed Usage:
On the PPP application, Stanley Tree Service Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,700,000
Business Information - Stanley Tree Service Inc in Smithfield, RI
275 George Washington Highway
Smithfield, RI 2917
Business Industry:
Landscaping Services
NAICS code 561730
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Smithfield
In the Smithfield area, 17 businesses in the "Landscaping Services" industry received a PPP loan. These local businesses reported an average of 29 employees (compared to this company's 200) and received an average PPP loan of $323,034 (compared to this company's $2.7M).
Similar Nearby Businesses Who Received PPP Funding:
Greenwave Landscape & Horticulture Service, LLC
Rumford, RI
RI Tree And Landscape LLC
Smithfield, RI
CJ Tree Inc
Smithfield, RI
Rainone Landscaping Inc
Smithfield, RI
Above & Beyond Tree Service, LLC
Smithfield, RI
Lawrence Siravo
Rumford, RI
Larchmere Landscaping Inc
Rumford, RI
Horizon Landscaping LLC
Smithfield, RI
GLM Construction, LLC
Smithfield, RI
Industry PPP Comparison Statistics
Nationwide, 131,953 businesses in the "Landscaping Services" industry received a total of $5.9B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 6 employees, 97% lower than Stanley Tree Service Inc's reported 200 employees, and received an average PPP loan of $44,711, 98% lower than this company's loan of $2.7M.
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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. 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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