PPP Loan Data — Meyer & Najem, Inc, Fishers, IN
Meyer & Najem, Inc
Entity: Subchapter S Corporation
Location: Fishers, INTweet This • Search All PPP Data
Meyer & Najem, Inc is a subchapter s corporation located at 11787 Lantern Road, Suite 100 in Fishers, Indiana that received a Coronavirus-related PPP loan from the SBA of $1,838,500.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Old National Bank
Meyer & Najem, Inc in Fishers, IN received a Paycheck Protection Loan of $1.84M through Old National 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 December, 2020.
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, Meyer & Najem, Inc's 2019 payroll expenses are estimated to be at least $8.82M.
Based on their reported 91 jobs retained, this equals an estimated average yearly compensation of $96,976 per employee1
Reported PPP Proceed Usage:
On the PPP application, Meyer & Najem, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,838,500
Business Information - Meyer & Najem, Inc in Fishers, IN
11787 Lantern Road, Suite 100
Fishers, IN 46038
Commercial and Institutional Building Construction
NAICS code 236220
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Fishers
In the Fishers area, 17 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 32 employees (compared to this company's 91) and received an average PPP loan of $484,854 (compared to this company's $1.84M).
Similar Nearby Businesses Who Received PPP Funding:
Realty Assist Indy LLC
B & T Building Solutions LLC
Indy Home & Garage, LLC
Facility Automation Services LLC
Macdougall Pierce Construction Inc
Capitol Construction Services, Inc
Project Csi LLC
Industry PPP Comparison Statistics
Nationwide, 78,873 businesses in the "Commercial and Institutional Building Construction" industry received a total of $12.41B 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, 87% lower than Meyer & Najem, Inc's reported 91 employees, and received an average PPP loan of $157,325, 91% lower than this company's loan of $1.84M.
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Footnotes & Information
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