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PPP Loan Data — Torrington Supply Company, Inc., Waterbury, CT

SBA PPP loan data, payroll data, and salaries for Torrington Supply Company, Inc.
CT

Torrington Supply Company, Inc.

Entity: Corporation

Industry: Industrial Supplies Merchant Wholesalers

Location: Waterbury, CT

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Torrington Supply Company, Inc. is a corporation located at 100 N Elm Street in Waterbury, Connecticut that received a Coronavirus-related PPP loan from the SBA of $2,616,700.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.62M

Jobs Retained:

175

Loan Approved:

2020-04-06

Lender:

UNION SAVINGS BANK

Torrington Supply Company, Inc. in Waterbury, CT received a Paycheck Protection Loan of $2.62M through UNION SAVINGS BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Torrington Supply Company, Inc.'s total 2019 payroll expenses were approximately $12.56M in order to qualify for the PPP loan amount received.

Based on their reported 175 jobs retained, this equals an estimated average yearly compensation of $71,772 per employee1.

Because the loan received by Torrington Supply Company, Inc. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Torrington Supply Company, Inc. in Waterbury, CT

Torrington Supply Company, Inc.
100 N Elm Street
Waterbury, CT 06702

Business Industry

Industrial Supplies Merchant Wholesalers (NAICS code 423840)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: CT-05

Similar Companies near Waterbury

In the Waterbury area, 2 businesses in the "Industrial Supplies Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 101 employees (compared to this company's 175) and received an average PPP loan of $1,432,849 (compared to this company's $2.62M).

Similar Nearby Businesses Who Received PPP Funding:

Tools Plus Inc
Waterbury, CT

$248,997 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 4,186 businesses in the "Industrial Supplies Merchant Wholesalers" industry received a total of $780,956,963.00 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 13 employees, 93% lower than Torrington Supply Company, Inc.'s reported 175 employees, and received an average PPP loan of $186,564, 93% lower than this company's loan of $2.62M.

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, and is published unmodified, as provided by the SBA.

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/torrington-supply-company-inc-waterbury-ct