PPP Loan Data — Letter Systems, Inc., Augusta, ME
Letter Systems, Inc. is an employee stock ownership plan (esop) located at 15 Darin Dr in Augusta, Maine that received a Coronavirus-related PPP loan from the SBA of $2,493,000.00 in April, 2020.
$ PPP Loan Information
Lender:PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION
Letter Systems, Inc. in Augusta, ME received a Paycheck Protection Loan of $2.49M through PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Letter Systems, Inc.'s total 2019 payroll expenses were approximately $11.97M in order to qualify for the PPP loan amount received.
Based on their reported 121 jobs retained, this equals an estimated average yearly compensation of $98,896 per employee1.
Business Information - Letter Systems, Inc. in Augusta, ME
15 Darin Dr
Augusta, ME 4330
Commercial Printing (except Screen and Books) (NAICS code 323111)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: ME-01
Similar Companies near Augusta
In the Augusta area, 3 businesses in the "Commercial Printing (except Screen and Books)" industry received a PPP loan. These local businesses reported an average of 44 employees (compared to this company's 121) and received an average PPP loan of $865,115 (compared to this company's $2.49M).
Similar Nearby Businesses Who Received PPP Funding:
Albison's Printing, Inc.
B & B Embroidery Inc
Industry PPP Comparison Statistics
Nationwide, 13,022 businesses in the "Commercial Printing (except Screen and Books)" industry received a total of $1,940,592,408.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 12 employees, 90% lower than Letter Systems, Inc.'s reported 121 employees, and received an average PPP loan of $149,024, 94% lower than this company's loan of $2.49M.
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Footnotes & Information
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