PPP Loan Data — Newbury Sales Group, LLC, Berlin, CT
Newbury Sales Group, LLC is a limited liability company (LLC) located at 84 Round Hill Rd in Berlin, Connecticut that received a Coronavirus-related PPP loan from the SBA of $46,670.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Webster Bank, National Association
Newbury Sales Group, LLC in Berlin, CT received a Paycheck Protection Loan of $46,670 through Webster Bank, National Association, which was approved in April, 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, Newbury Sales Group, LLC's 2019 payroll expenses are estimated to be at least $224,016.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $74,672 per employee1
Reported PPP Proceed Usage:
On the PPP application, Newbury Sales Group, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,670
Business Information - Newbury Sales Group, LLC in Berlin, CT
84 Round Hill Rd
Berlin, CT 6037
All Other Business Support Services
NAICS code 561499
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Berlin
In the Berlin area, 4 businesses in the "All Other Business Support Services" industry received a PPP loan. These local businesses reported an average of 36 employees (compared to this company's 3) and received an average PPP loan of $121,828 (compared to this company's $46,670).
Similar Nearby Businesses Who Received PPP Funding:
Rainbow Home Services, LLC
JEM Systems Inc
Auction It Today Of CT & Ri, LLC
Industry PPP Comparison Statistics
Nationwide, 53,190 businesses in the "All Other Business Support Services" industry received a total of $2.63B 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 6 employees, 100% higher than Newbury Sales Group, LLC's reported 3 employees, and received an average PPP loan of $49,465, 6% higher than this company's loan of $46,670.
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Footnotes & Information
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