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PPP Loan Data — Aroostook County Action Program, Presque Isle, ME

SBA PPP loan data, payroll data, and salaries for Aroostook County Action Program
ME

Aroostook County Action Program

Entity: Corporation

Industry: Other Individual and Family Services

Location: Presque Isle, ME

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Aroostook County Action Program is a corporation located at 771 Main St in Presque Isle, Maine that received a Coronavirus-related PPP loan from the SBA of $1,546,929.00 in January, 2021.

The company has reported itself as a female owned business, and employed at least 152 people during the applicable loan loan period.

$ PPP Loan Information
Loan #3829208302

Loan Size:

$1.55M

Jobs Retained:

152

Loan Approved:

2021-01-22

Loan Status:

Ongoing Loan

Lender:

Katahdin Trust Co.

Aroostook County Action Program in Presque Isle, ME received a Paycheck Protection Loan of $1.55M through Katahdin Trust Co., which was approved in January, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Aroostook County Action Program's 2019 payroll expenses are estimated to be at least $7.43M.

Based on their reported 152 jobs retained, this equals an estimated average yearly compensation of $48,850 per employee1

Reported PPP Proceed Usage:

On the PPP application, Aroostook County Action Program reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,546,924
  • Utilities: $1

Business Information - Aroostook County Action Program in Presque Isle, ME

Aroostook County Action Program
771 Main St
Presque Isle, ME 4769

Business Industry:
Other Individual and Family Services
NAICS code 624190

Business Owner Demographics

Race: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Female Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: Y

Rural / Urban: Rural

Aroostook County, ME — SBA Office 0172 — Congressional District: ME-02

Similar Companies near Presque Isle

In the Presque Isle area, 3 businesses in the "Other Individual and Family Services" industry received a PPP loan. These local businesses reported an average of 51 employees (compared to this company's 152) and received an average PPP loan of $520,833 (compared to this company's $1.55M).

Industry PPP Comparison Statistics

Nationwide, 25,118 businesses in the "Other Individual and Family Services" industry received a total of $2.96B 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 16 employees, 89% lower than Aroostook County Action Program's reported 152 employees, and received an average PPP loan of $117,860, 92% lower than this company's loan of $1.55M.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

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Footnotes & Information

1. Estimations for informational purposes only. 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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Source: www.federalpay.org/paycheck-protection-program/aroostook-county-action-program-presque-isle-me