PPP Loan Data — Twincraft, Inc, Winooski, VT
Twincraft, Inc is a subchapter s corporation located at 2 Tigan Street in Winooski, Vermont that received a Coronavirus-related PPP loan from the SBA of $2,341,342.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Community Bank, National Association
Twincraft, Inc in Winooski, VT received a Paycheck Protection Loan of $2.34M through Community 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, Twincraft, Inc's 2019 payroll expenses are estimated to be at least $11.24M.
Based on their reported 217 jobs retained, this equals an estimated average yearly compensation of $51,790 per employee1
Reported PPP Proceed Usage:
On the PPP application, Twincraft, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,341,342
Business Information - Twincraft, Inc in Winooski, VT
2 Tigan Street
Winooski, VT 5404
Soap and Other Detergent Manufacturing
NAICS code 325611
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 1,428 businesses in the "Soap and Other Detergent Manufacturing" industry received a total of $162.26M 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 11 employees, 95% lower than Twincraft, Inc's reported 217 employees, and received an average PPP loan of $113,626, 95% lower than this company's loan of $2.34M.
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Footnotes & Information
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