PPP Loan Data — Blue Arbor, Inc, New Bern, NC
Blue Arbor, Inc is a corporation located at 5413 Morton Road in New Bern, North Carolina that received a Coronavirus-related PPP loan from the SBA of $1,754,400.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First-Citizens Bank & Trust Company
Blue Arbor, Inc in New Bern, NC received a Paycheck Protection Loan of $1.75M through First-Citizens Bank & Trust Company, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in January, 2021.
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, Blue Arbor, Inc's 2019 payroll expenses are estimated to be at least $8.42M.
Based on their reported 382 jobs retained, this equals an estimated average yearly compensation of $22,045 per employee1
Reported PPP Proceed Usage:
On the PPP application, Blue Arbor, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,754,400
Business Information - Blue Arbor, Inc in New Bern, NC
5413 Morton Road
New Bern, NC 28561
Temporary Help Services
NAICS code 561320
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near New Bern
In the New Bern area, 2 businesses in the "Temporary Help Services" industry received a PPP loan. These local businesses reported an average of 227 employees (compared to this company's 382) and received an average PPP loan of $1,070,500 (compared to this company's $1.75M).
Similar Nearby Businesses Who Received PPP Funding:
Atlantic Gulf Coast Contracting Inc
New Bern, NC
Industry PPP Comparison Statistics
Nationwide, 8,994 businesses in the "Temporary Help Services" industry received a total of $3.65B 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 51 employees, 87% lower than Blue Arbor, Inc's reported 382 employees, and received an average PPP loan of $405,841, 77% lower than this company's loan of $1.75M.
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Footnotes & Information
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