R.T. VANDERBILT HOLDING COMPANY, INC.
PPP Loan approved Apr 9, 2020 through JPMorgan Chase Bank, National Association
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $7,134,040.00 | 87.7% |
| Health Care | $999,855.00 | 12.3% |
About This Loan
R.T. VANDERBILT HOLDING COMPANY, INC. received a PPP loan of $8,133,895 approved on Apr 9, 2020. The loan was originated by JPMorgan Chase Bank, National Association.
R.T. VANDERBILT HOLDING COMPANY, INC. is a corporation located in NORWALK, Connecticut. At the time of the application, the business was described as "existing or more than 2 years old".
The business operates in the Manufacturing industry (NAICS 325180), part of the Manufacturing sector of the economy. The applicant reported 426 jobs as retained through this loan.
The SBA forgave $8,279,369.71 of this loan — 101.8% of the total approved amount, with forgiveness recorded on Jan 28, 2022. This means the borrower was not required to repay this portion, having satisfied the PPP's eligibility criteria for forgiveness, including maintaining payroll levels and using the funds for qualified expenses.
According to the SBA's records, the proceeds of this loan were allocated as follows: $7,134,040 to payroll, $999,855 to health care costs. The payroll component represents 87.7% of disclosed proceeds, consistent with the program's requirement that at least 60% of loan funds be used for payroll costs to qualify for full forgiveness.
This loan is one of millions approved nationwide during the COVID-19 pandemic. To explore other recipients in Connecticut, visit the Connecticut page. To compare this loan with others in the same industry, see the Manufacturing industry page.