PPP Loan Data — Network Packaging Group LLC, Warsaw, IN
Network Packaging Group LLC is a limited liability company (LLC) located at 2180 North Point Drive in Warsaw, Indiana that received a Coronavirus-related PPP loan from the SBA of $1,847,300.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:1st Source Bank
Network Packaging Group LLC in Warsaw, IN received a Paycheck Protection Loan of $1.85M through 1st Source 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, Network Packaging Group LLC's 2019 payroll expenses are estimated to be at least $8.87M.
Based on their reported 144 jobs retained, this equals an estimated average yearly compensation of $61,577 per employee1
Reported PPP Proceed Usage:
On the PPP application, Network Packaging Group LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,847,300
Business Information - Network Packaging Group LLC in Warsaw, IN
2180 North Point Drive
Warsaw, IN 46582
NAICS code 541330
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Warsaw
In the Warsaw area, 3 businesses in the "Engineering Services" industry received a PPP loan. These local businesses reported an average of 62 employees (compared to this company's 144) and received an average PPP loan of $772,660 (compared to this company's $1.85M).
Similar Nearby Businesses Who Received PPP Funding:
JC Innovations LLC
Texmo Precision Castings Us Inc
Industry PPP Comparison Statistics
Nationwide, 47,152 businesses in the "Engineering Services" industry received a total of $9.19B 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 13 employees, 91% lower than Network Packaging Group LLC's reported 144 employees, and received an average PPP loan of $194,873, 89% lower than this company's loan of $1.85M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!