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PPP Loan Data — West River Group, Inc., Annapolis, MD

SBA PPP loan data, payroll data, and salaries for West River Group, Inc.
MD

West River Group, Inc.

Entity: Subchapter S Corporation

Industry: All Other Support Services

Location: Annapolis, MD

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West River Group, Inc. is a subchapter s corporation located at 703 Bestgate Road in Annapolis, Maryland that received a Coronavirus-related PPP loan from the SBA of $4,005,082.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.01M

Jobs Retained:

310

Loan Approved:

2020-04-15

Lender:

MANUFACTURERS AND TRADERS TRUST COMPANY

West River Group, Inc. received a Paycheck Protection Loan of $4.01M through MANUFACTURERS AND TRADERS TRUST COMPANY, which was approved in April, 2020.

Based on standard PPP eligibility rules, West River Group, Inc.'s total 2019 payroll expenses were approximately $19.22M in order to qualify for the PPP loan amount received.

Based on their reported 310 jobs retained, this equals an estimated average yearly compensation of $62,014 per employee1.

Because the loan received by West River Group, 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 - West River Group, Inc. in Annapolis, MD

West River Group, Inc.
703 Bestgate Road
Annapolis, MD 21401

Business Industry

All Other Support Services (NAICS code 561990)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MD-04

Similar Companies near Annapolis

In the Annapolis area, 10 businesses in the "All Other Support Services" industry received a PPP loan. These local businesses reported an average of 35 employees (compared to this company's 310) and received an average PPP loan of $443,043 (compared to this company's $4.01M).

Industry PPP Comparison Statistics

Nationwide, 26,446 businesses in the "All Other Support Services" industry received a total of $1,388,180,245.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 6 employees, 98% lower than West River Group, Inc.'s reported 310 employees, and received an average PPP loan of $52,491, 99% lower than this company's loan of $4.01M.

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.

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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/west-river-group-inc-annapolis-md