PPP Loan Data — JNC Services Inc, Dracut, MA
JNC Services Inc is a corporation located at 8 Farragut St in Dracut, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $45,900.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Jeanne D' Arc CU
JNC Services Inc in Dracut, MA received a Paycheck Protection Loan of $45,900 through Jeanne D' Arc CU, which was approved in May, 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 March, 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, JNC Services Inc's 2019 payroll expenses are estimated to be at least $220,320.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $55,080 per employee1
Reported PPP Proceed Usage:
On the PPP application, JNC Services Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,900
Business Information - JNC Services Inc in Dracut, MA
8 Farragut St
Dracut, MA 1826
Other Construction Material Merchant Wholesalers
NAICS code 423390
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 5,530 businesses in the "Other Construction Material Merchant Wholesalers" industry received a total of $490.69M 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, 100% higher than JNC Services Inc's reported 4 employees, and received an average PPP loan of $88,732, 93% higher than this company's loan of $45,900.
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Footnotes & Information
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