PPP Loan Data — National Credit Adjusters LLC, Hutchinson, KS
National Credit Adjusters LLC is a limited liability company (LLC) located at 327 West 4th Ave in Hutchinson, Kansas that received a Coronavirus-related PPP loan from the SBA of $1,523,405.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 134 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
National Credit Adjusters LLC in Hutchinson, KS received a Paycheck Protection Loan of $1.52M through RCB 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, National Credit Adjusters LLC's 2019 payroll expenses are estimated to be at least $7.31M.
Based on their reported 134 jobs retained, this equals an estimated average yearly compensation of $54,570 per employee1
Reported PPP Proceed Usage:
On the PPP application, National Credit Adjusters LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,523,405
Business Information - National Credit Adjusters LLC in Hutchinson, KS
327 West 4th Ave
Hutchinson, KS 67501
NAICS code 561440
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Hutchinson
In the Hutchinson area, 4 businesses in the "Collection Agencies" industry received a PPP loan. These local businesses reported an average of 49 employees (compared to this company's 134) and received an average PPP loan of $607,363 (compared to this company's $1.52M).
Similar Nearby Businesses Who Received PPP Funding:
Central States Recovery, Inc
Fourth Avenue Holding, LLC
Industry PPP Comparison Statistics
Nationwide, 2,910 businesses in the "Collection Agencies" industry received a total of $542.19M 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 19 employees, 86% lower than National Credit Adjusters LLC's reported 134 employees, and received an average PPP loan of $186,320, 88% lower than this company's loan of $1.52M.
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Footnotes & Information
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