PPP Loan Data — International Grand Investment, Baileyville, ME
International Grand Investment is a corporation located at 144 Main St in Baileyville, Maine that received a Coronavirus-related PPP loan from the SBA of $1,608,157.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Machias Savings Bank
International Grand Investment in Baileyville, ME received a Paycheck Protection Loan of $1.61M through Machias Savings Bank, 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, International Grand Investment's 2019 payroll expenses are estimated to be at least $7.72M.
Based on their reported 87 jobs retained, this equals an estimated average yearly compensation of $88,726 per employee1
Reported PPP Proceed Usage:
On the PPP application, International Grand Investment reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,608,157
Business Information - International Grand Investment in Baileyville, ME
144 Main St
Baileyville, ME 4694
Paper (except Newsprint) Mills
NAICS code 322121
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 317 businesses in the "Paper (except Newsprint) Mills" industry received a total of $101.6M 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 27 employees, 69% lower than International Grand Investment's reported 87 employees, and received an average PPP loan of $320,490, 80% lower than this company's loan of $1.61M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!