PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Hodges Badge Company Inc, Portsmouth, RI

ALERT: There are 2 PPP loans for a total of $2.78M in our database for businesses with the name "Hodges Badge Company Inc" in Portsmouth, RI. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Hodges Badge Company Inc
RI

Hodges Badge Company Inc

Entity: Corporation

Industry: All Other Miscellaneous Manufacturing

Location: Portsmouth, RI

Search All PPP Data

Hodges Badge Company Inc is a corporation located at 1170 E Main Rd in Portsmouth, Rhode Island that received a Coronavirus-related PPP loan from the SBA of $1,390,215.00 in March, 2021.

$ PPP Loan Information
Loan #6434778602

Loan Size:

$1.39M

Jobs Retained:

116

Loan Approved:

2021-03-23

Loan Status:

Ongoing Loan

Lender:

Bank of America, National Association

Hodges Badge Company Inc in Portsmouth, RI received a Paycheck Protection Loan of $1.39M through Bank of America, National Association, which was approved in March, 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, Hodges Badge Company Inc's 2019 payroll expenses are estimated to be at least $6.67M.

Based on their reported 116 jobs retained, this equals an estimated average yearly compensation of $57,526 per employee1

Reported PPP Proceed Usage:

On the PPP application, Hodges Badge Company Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,390,212
  • Utilities: $1

Business Information - Hodges Badge Company Inc in Portsmouth, RI

Hodges Badge Company Inc
1170 E Main Rd
Portsmouth, RI 2871

Business Industry:
All Other Miscellaneous Manufacturing
NAICS code 339999

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Newport County, RI — SBA Office 0165 — Congressional District: RI-01

Similar Companies near Portsmouth

In the Portsmouth area, 6 businesses in the "All Other Miscellaneous Manufacturing" industry received a PPP loan. These local businesses reported an average of 26 employees (compared to this company's 116) and received an average PPP loan of $282,643 (compared to this company's $1.39M).

Industry PPP Comparison Statistics

Nationwide, 16,621 businesses in the "All Other Miscellaneous Manufacturing" industry received a total of $2.04B 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 12 employees, 90% lower than Hodges Badge Company Inc's reported 116 employees, and received an average PPP loan of $122,768, 91% lower than this company's loan of $1.39M.

SBA PPP loan data, payroll data, and salaries for Hodges Badge Company Inc
RI

Hodges Badge Company Inc

Entity: Corporation

Industry: Apparel Accessories and Other Apparel Manufacturing

Location: Portsmouth, RI

Search All PPP Data

Hodges Badge Company Inc is a corporation located at 1170 E Main Rd in Portsmouth, Rhode Island that received a Coronavirus-related PPP loan from the SBA of $1,390,215.00 in April, 2020.

$ PPP Loan Information
Loan #3126537108

Loan Size:

$1.39M

Jobs Retained:

149

Loan Approved:

2020-04-11

Loan Status:

Ongoing Loan

Lender:

Bank of America, National Association

Hodges Badge Company Inc in Portsmouth, RI received a Paycheck Protection Loan of $1.39M through Bank of America, 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

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, Hodges Badge Company Inc's 2019 payroll expenses are estimated to be at least $6.67M.

Based on their reported 149 jobs retained, this equals an estimated average yearly compensation of $44,785 per employee1

Reported PPP Proceed Usage:

On the PPP application, Hodges Badge Company Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Mortgage Interest: $1,390,215

Business Information - Hodges Badge Company Inc in Portsmouth, RI

Hodges Badge Company Inc
1170 E Main Rd
Portsmouth, RI 2871

Business Industry:
Apparel Accessories and Other Apparel Manufacturing
NAICS code 315990

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age:

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Newport County, RI — SBA Office 0165 — Congressional District: RI-01

Industry PPP Comparison Statistics

Nationwide, 7,572 businesses in the "Apparel Accessories and Other Apparel Manufacturing" industry received a total of $547.49M 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 8 employees, 95% lower than Hodges Badge Company Inc's reported 149 employees, and received an average PPP loan of $72,305, 95% lower than this company's loan of $1.39M.

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.

Search FederalPay's Full PPP Loan Database

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/hodges-badge-company-inc-portsmouth-ri