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PPP Loan Data — TLC Security Solutions Inc, Norwood, MA

SBA PPP loan data, payroll data, and salaries for TLC Security Solutions Inc
MA

TLC Security Solutions Inc

Entity: Corporation

Industry: Security Systems Services (except Locksmiths)

Location: Norwood, MA

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TLC Security Solutions Inc is a corporation located at 433 Walpole St in Norwood, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $41,765.00 in April, 2020.

The company has reported itself as a female owned business, and employed at least four people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$41,765

Jobs Retained:

4

Loan Approved:

2020-04-12

Lender:

WEBSTER BANK, NATIONAL ASSOCIATION

TLC Security Solutions Inc received a Paycheck Protection Loan of $41,765 through WEBSTER BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, TLC Security Solutions Inc's total 2019 payroll expenses were approximately $200,472 in order to qualify for the PPP loan amount received.

Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $50,118 per employee1.

Business Information - TLC Security Solutions Inc in Norwood, MA

TLC Security Solutions Inc
433 Walpole St
Norwood, MA 2062

Business Industry

Security Systems Services (except Locksmiths) (NAICS code 561621)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: FEMALE OWNED

Veteran Status: NON-VETERAN

Congressional District: MA-08

Similar Companies near Norwood

In the Norwood area, 2 businesses in the "Security Systems Services (except Locksmiths)" industry received a PPP loan. These local businesses reported an average of 85 employees (compared to this company's 4) and received an average PPP loan of $1,536,481 (compared to this company's $41,765).

Similar Nearby Businesses Who Received PPP Funding:

Signet Electronic Systems, Inc
Norwell, MA

$3.03M PPP Loan

Industry PPP Comparison Statistics

Nationwide, 5,289 businesses in the "Security Systems Services (except Locksmiths)" industry received a total of $839,803,057.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 14 employees, 250% higher than TLC Security Solutions Inc's reported 4 employees, and received an average PPP loan of $158,783, 280% higher than this company's loan of $41,765.

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. 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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Source: www.federalpay.org/paycheck-protection-program/tlc-security-solutions-inc-norwood-ma