PPP Loan Data — Meekins Drafting And Design, Albany, OR
Meekins Drafting And Design is a corporation located at 220 Ellsworth St Sw in Albany, Oregon that received a Coronavirus-related PPP loan from the SBA of $25,500.00 in June, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Central Willamette CU
Meekins Drafting And Design in Albany, OR received a Paycheck Protection Loan of $25,500 through Central Willamette CU, which was approved in June, 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 February, 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, Meekins Drafting And Design's 2019 payroll expenses are estimated to be at least $122,400.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,800 per employee1
Reported PPP Proceed Usage:
On the PPP application, Meekins Drafting And Design reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $19,125
- Utilities: $1,275
- Rent: $5,100
Business Information - Meekins Drafting And Design in Albany, OR
220 Ellsworth St Sw
Albany, OR 97321
NAICS code 541340
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 2,961 businesses in the "Drafting Services" industry received a total of $106.52M 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 3 employees, the same amount reported by Meekins Drafting And Design and received an average PPP loan of $35,974, 41% higher than this company's loan of $25,500.
FederalPay's PPP Information Policy
Footnotes & Information
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