PPP Loan Data — Nercon Eng. & MFG., Inc, Neenah, WI
Nercon Eng. & MFG., Inc is a corporation located at 600 S Commercial St in Neenah, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $1,913,800.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 118 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Business Bank
Nercon Eng. & MFG., Inc in Neenah, WI received a Paycheck Protection Loan of $1.91M through First Business 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 May, 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, Nercon Eng. & MFG., Inc's 2019 payroll expenses are estimated to be at least $9.19M.
Based on their reported 118 jobs retained, this equals an estimated average yearly compensation of $77,849 per employee1
Reported PPP Proceed Usage:
On the PPP application, Nercon Eng. & MFG., Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,913,800
Business Information - Nercon Eng. & MFG., Inc in Neenah, WI
600 S Commercial St
Neenah, WI 54956
Conveyor and Conveying Equipment Manufacturing
NAICS code 333922
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Neenah
In the Neenah area, 3 businesses in the "Conveyor and Conveying Equipment Manufacturing" industry received a PPP loan. These local businesses reported an average of 85 employees (compared to this company's 118) and received an average PPP loan of $1,232,960 (compared to this company's $1.91M).
Similar Nearby Businesses Who Received PPP Funding:
Pack Air Inc
Industry PPP Comparison Statistics
Nationwide, 648 businesses in the "Conveyor and Conveying Equipment Manufacturing" industry received a total of $279.38M 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 31 employees, 74% lower than Nercon Eng. & MFG., Inc's reported 118 employees, and received an average PPP loan of $431,139, 77% lower than this company's loan of $1.91M.
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Footnotes & Information
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