WILLIAM RAVEIS HOLDINGS, INC.
PPP Loan approved Apr 5, 2020 through Manufacturers and Traders Trust Company
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $6,441,000.00 | 100.0% |
About This Loan
WILLIAM RAVEIS HOLDINGS, INC. received a PPP loan of $6,441,000 approved on Apr 5, 2020. The loan was originated by Manufacturers and Traders Trust Company.
WILLIAM RAVEIS HOLDINGS, INC. is a corporation located in SHELTON, Connecticut. At the time of the application, the business was described as "existing or more than 2 years old".
The business operates in the Offices of Real Estate Agents and Brokers industry (NAICS 531210), part of the Real Estate and Rental and Leasing sector of the economy. The applicant reported 411 jobs as retained through this loan.
The SBA forgave $6,556,232.14 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: $6,441,000 to payroll. The payroll component represents 100.0% 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 Offices of Real Estate Agents and Brokers industry page.