PPP Loan Data — TMM, Inc, Lewiston, ME
TMM, Inc is a corporation located at 536 Lincoln St in Lewiston, Maine that received a Coronavirus-related PPP loan from the SBA of $1,566,800.00 in April, 2020. This business is a McDonalds franchise.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Gorham Savings Bank
TMM, Inc in Lewiston, ME received a Paycheck Protection Loan of $1.57M through Gorham 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 January, 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, TMM, Inc's 2019 payroll expenses are estimated to be at least $7.52M.
Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $30,083 per employee1
Reported PPP Proceed Usage:
On the PPP application, TMM, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,566,800
Business Information - TMM, Inc in Lewiston, ME
536 Lincoln St
Lewiston, ME 4240
NAICS code 722513
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Lewiston
In the Lewiston area, 18 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 24 employees (compared to this company's 250) and received an average PPP loan of $150,636 (compared to this company's $1.57M).
Similar Nearby Businesses Who Received PPP Funding:
Angelos Pizza Lewiston
Boba Holding LLC
Connor Management LLC
Antigoni's Pizza Inc
Lisbon Donuts Inc
Shivam Kumar Inc
Mr Seas Seafood
She Doesnt Like Guthries
Connor Coffee, LLC
Industry PPP Comparison Statistics
Nationwide, 137,629 businesses in the "Limited-Service Restaurants" industry received a total of $13.9B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 21 employees, 92% lower than TMM, Inc's reported 250 employees, and received an average PPP loan of $100,980, 94% lower than this company's loan of $1.57M.
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Footnotes & Information
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