PPP Loan Data — Betlan Corporation, Newtown, CT
Entity: Limited Liability Company (LLC)
Location: Newtown, CTTweet This • Search All PPP Data
Betlan Corporation is a limited liability company (LLC) located at 31 Pecks Ln #7 in Newtown, Connecticut that received a Coronavirus-related PPP loan from the SBA of $46,950.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:People's United Bank, National Association
Betlan Corporation in Newtown, CT received a Paycheck Protection Loan of $46,950 through People's United Bank, National Association, which was approved in April, 2020.
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
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, Betlan Corporation's 2019 payroll expenses are estimated to be at least $225,360.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $75,120 per employee1
Reported PPP Proceed Usage:
On the PPP application, Betlan Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,950
Business Information - Betlan Corporation in Newtown, CT
31 Pecks Ln #7
Newtown, CT 6470
All Other Miscellaneous Fabricated Metal Product Manufacturing
NAICS code 332999
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Newtown
In the Newtown area, 4 businesses in the "All Other Miscellaneous Fabricated Metal Product Manufacturing" industry received a PPP loan. These local businesses reported an average of 20 employees (compared to this company's 3) and received an average PPP loan of $265,758 (compared to this company's $46,950).
Similar Nearby Businesses Who Received PPP Funding:
Engineering Specialties, Inc
North Branford, CT
Industry PPP Comparison Statistics
Nationwide, 8,434 businesses in the "All Other Miscellaneous Fabricated Metal Product Manufacturing" industry received a total of $1.95B 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 20 employees, 567% higher than Betlan Corporation's reported 3 employees, and received an average PPP loan of $231,549, 393% higher than this company's loan of $46,950.
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