PPP Loan Data — The Rope Company LLC, Warren, ME
The Rope Company LLC
Entity: Limited Liability Company (LLC)
Location: Warren, METweet This • Search All PPP Data
The Rope Company LLC is a limited liability company (LLC) located at Po Box 130 Po Box 24 in Warren, Maine that received a Coronavirus-related PPP loan from the SBA of $25,402.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Camden National Bank
The Rope Company LLC in Warren, ME received a Paycheck Protection Loan of $25,402 through Camden National 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 June, 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 Rope Company LLC's 2019 payroll expenses are estimated to be at least $121,930.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,643 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Rope Company LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,402
Business Information - The Rope Company LLC in Warren, ME
Po Box 130 Po Box 24
Warren, ME 4864
Rope, Cordage, Twine, Tire Cord, and Tire Fabric Mills
NAICS code 314994
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Warren
In the Warren area, 2 businesses in the "Rope, Cordage, Twine, Tire Cord, and Tire Fabric Mills" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 3) and received an average PPP loan of $60,889 (compared to this company's $25,402).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 165 businesses in the "Rope, Cordage, Twine, Tire Cord, and Tire Fabric Mills" industry received a total of $28.19M 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 19 employees, 533% higher than The Rope Company LLC's reported 3 employees, and received an average PPP loan of $170,823, 572% higher than this company's loan of $25,402.
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