PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Stewart Efi LLC, Thomaston, CT

ALERT: There are 2 PPP loans for a total of $4.93M in our database for businesses with the name "Stewart Efi LLC" in Thomaston, CT. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Stewart Efi LLC
CT

Stewart Efi LLC

Entity: Limited Liability Company (LLC)

Industry: Motor Vehicle Metal Stamping

Location: Thomaston, CT

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Stewart Efi LLC is a limited liability company (LLC) located at 45 Old Waterbury Rd in Thomaston, Connecticut that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.

$ PPP Loan Information
Loan #5741188303

Loan Size:

$2M

Jobs Retained:

196

Loan Approved:

2021-01-25

Loan Status:

Paid in Full or Forgiven

Lender:

People's United Bank, National Association

Stewart Efi LLC in Thomaston, CT received a Paycheck Protection Loan of $2M through People's United Bank, National Association, which was approved in January, 2021.

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 July, 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 More
Understanding 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 More

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, Stewart Efi LLC's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 196 jobs retained, this equals an estimated average yearly compensation of $48,980 per employee1

Reported PPP Proceed Usage:

On the PPP application, Stewart Efi LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,000,000
Because the loan received by Stewart Efi LLC 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 - Stewart Efi LLC in Thomaston, CT

Stewart Efi LLC
45 Old Waterbury Rd
Thomaston, CT 6787

Business Industry:
Motor Vehicle Metal Stamping
NAICS code 336370

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: Rural

Litchfield County, CT — SBA Office 0156 — Congressional District: CT-05

Industry PPP Comparison Statistics

Nationwide, 327 businesses in the "Motor Vehicle Metal Stamping" industry received a total of $280.57M 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 76 employees, 61% lower than Stewart Efi LLC's reported 196 employees, and received an average PPP loan of $858,001, 57% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for Stewart Efi, LLC
CT

Stewart Efi, LLC

Entity: Limited Liability Company (LLC)

Industry: Metal Crown, Closure, and Other Metal Stamping (except Automotive)

Location: Thomaston, CT

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Stewart Efi, LLC is a limited liability company (LLC) located at 45 Old Waterbury Rd in Thomaston, Connecticut that received a Coronavirus-related PPP loan from the SBA of $2,925,313.00 in April, 2020.

$ PPP Loan Information
Loan #5052767004

Loan Size:

$2.93M

Jobs Retained:

208

Loan Approved:

2020-04-04

Loan Status:

Paid in Full or Forgiven

Lender:

People's United Bank, National Association

Stewart Efi, LLC in Thomaston, CT received a Paycheck Protection Loan of $2.93M through People's United Bank, National Association, 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 July, 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 More
Understanding 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 More

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, Stewart Efi, LLC's 2019 payroll expenses are estimated to be at least $14.04M.

Based on their reported 208 jobs retained, this equals an estimated average yearly compensation of $67,507 per employee1

Reported PPP Proceed Usage:

On the PPP application, Stewart Efi, LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,925,313
Because the loan received by Stewart Efi, LLC 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 - Stewart Efi, LLC in Thomaston, CT

Stewart Efi, LLC
45 Old Waterbury Rd
Thomaston, CT 6787

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: Rural

Litchfield County, CT — SBA Office 0156 — Congressional District: CT-05

Similar Companies near Thomaston

In the Thomaston area, 6 businesses in the "Metal Crown, Closure, and Other Metal Stamping (except Automotive)" industry received a PPP loan. These local businesses reported an average of 71 employees (compared to this company's 208) and received an average PPP loan of $897,073 (compared to this company's $2.93M).

Industry PPP Comparison Statistics

Nationwide, 1,030 businesses in the "Metal Crown, Closure, and Other Metal Stamping (except Automotive)" industry received a total of $433.73M 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, 82% lower than Stewart Efi, LLC's reported 208 employees, and received an average PPP loan of $421,100, 86% lower than this company's loan of $2.93M.

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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/stewart-efi-llc-thomaston-ct