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PPP Loan Data — Neis, Inc., Cheshire, CT

SBA PPP loan data, payroll data, and salaries for Neis, Inc.
CT

Neis, Inc.

Entity: Corporation

Industry: Insurance Agencies and Brokerages

Location: Cheshire, CT

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Neis, Inc. is a corporation located at 908 South Meriden Road in Cheshire, Connecticut that received a Coronavirus-related PPP loan from the SBA of $3,073,298.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.07M

Jobs Retained:

398

Loan Approved:

2020-04-28

Lender:

WEBSTER BANK, NATIONAL ASSOCIATION

Neis, Inc. received a Paycheck Protection Loan of $3.07M through WEBSTER BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Neis, Inc.'s total 2019 payroll expenses were approximately $14.75M in order to qualify for the PPP loan amount received.

Based on their reported 398 jobs retained, this equals an estimated average yearly compensation of $37,065 per employee1.

Because the loan received by Neis, Inc. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Neis, Inc. in Cheshire, CT

Neis, Inc.
908 South Meriden Road
Cheshire, CT 6410

Business Industry

Insurance Agencies and Brokerages (NAICS code 524210)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: CT-05

Similar Companies near Cheshire

In the Cheshire area, 11 businesses in the "Insurance Agencies and Brokerages" industry received a PPP loan. These local businesses reported an average of 38 employees (compared to this company's 398) and received an average PPP loan of $351,426 (compared to this company's $3.07M).

Industry PPP Comparison Statistics

Nationwide, 90,958 businesses in the "Insurance Agencies and Brokerages" industry received a total of $4,494,836,388.00 in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 4 employees, 99% lower than Neis, Inc.'s reported 398 employees, and received an average PPP loan of $49,417, 98% lower than this company's loan of $3.07M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.

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Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/neis-inc-cheshire-ct