PPP Loan Data — The Pmt Group, Inc, Bridgeport, CT
The Pmt Group, Inc
Location: Bridgeport, CTTweet This • Search All PPP Data
The Pmt Group, Inc is a corporation located at 800 Union Avenue in Bridgeport, Connecticut that received a Coronavirus-related PPP loan from the SBA of $3,954,825.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:TD Bank, National Association
The Pmt Group, Inc in Bridgeport, CT received a Paycheck Protection Loan of $3.95M through TD 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, The Pmt Group, Inc's 2019 payroll expenses are estimated to be at least $18.98M.
Based on their reported 241 jobs retained, this equals an estimated average yearly compensation of $78,768 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Pmt Group, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,954,825
Business Information - The Pmt Group, Inc in Bridgeport, CT
800 Union Avenue
Bridgeport, CT 6607
Cutting Tool and Machine Tool Accessory Manufacturing
NAICS code 333515
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Businesses Using Same Address:
There are 2 other businesses that received a PPP loan registered to the same address as The Pmt Group, Inc.
Data Processing, Hosting, and Related Services
Healthtree Financial Fitness LLC
Insurance Agencies and Brokerages
Industry PPP Comparison Statistics
Nationwide, 1,585 businesses in the "Cutting Tool and Machine Tool Accessory Manufacturing" industry received a total of $342.55M 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 18 employees, 93% lower than The Pmt Group, Inc's reported 241 employees, and received an average PPP loan of $216,122, 95% lower than this company's loan of $3.95M.
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Footnotes & Information
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