PPP Loan Data — The Kennedy Center, Inc, Trumbull, CT
The Kennedy Center, Inc
Entity: Limited Liability Company (LLC)
Location: Trumbull, CTTweet This • Search All PPP Data
The Kennedy Center, Inc is a limited liability company (LLC) located at 2440 Reservoir Ave in Trumbull, Connecticut that received a Coronavirus-related PPP loan from the SBA of $5,372,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Union Savings Bank
The Kennedy Center, Inc in Trumbull, CT received a Paycheck Protection Loan of $5.37M through Union Savings 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 October, 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, The Kennedy Center, Inc's 2019 payroll expenses are estimated to be at least $25.79M.
Based on their reported 459 jobs retained, this equals an estimated average yearly compensation of $56,178 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Kennedy Center, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $5,372,000
Business Information - The Kennedy Center, Inc in Trumbull, CT
2440 Reservoir Ave
Trumbull, CT 6611
Services for the Elderly and Persons with Disabilities
NAICS code 624120
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Trumbull
In the Trumbull area, 2 businesses in the "Services for the Elderly and Persons with Disabilities" industry received a PPP loan. These local businesses reported an average of 244 employees (compared to this company's 459) and received an average PPP loan of $2,725,650 (compared to this company's $5.37M).
Similar Nearby Businesses Who Received PPP Funding:
P2 Partners, Inc
Industry PPP Comparison Statistics
Nationwide, 13,075 businesses in the "Services for the Elderly and Persons with Disabilities" industry received a total of $2.13B 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 28 employees, 94% lower than The Kennedy Center, Inc's reported 459 employees, and received an average PPP loan of $162,855, 97% lower than this company's loan of $5.37M.
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Footnotes & Information
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