PPP Loan Data — Newcomb Spring Corp, Decatur, GA
Newcomb Spring Corp is a corporation located at 5408 Panola Industrial Blvd in Decatur, Georgia that received a Coronavirus-related PPP loan from the SBA of $3,042,572.00 in April, 2020.
$ PPP Loan Information Loan #1089067306
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Newcomb Spring Corp in Decatur, GA received a Paycheck Protection Loan of $3.04M through Bank of America, 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, Newcomb Spring Corp's 2019 payroll expenses are estimated to be at least $14.6M.
Based on their reported 201 jobs retained, this equals an estimated average yearly compensation of $72,658 per employee1
Reported PPP Proceed Usage:
On the PPP application, Newcomb Spring Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,042,572
Business Information - Newcomb Spring Corp in Decatur, GA
5408 Panola Industrial Blvd
Decatur, GA 30035
NAICS code 332613
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 300 businesses in the "Spring Manufacturing" industry received a total of $133,250,966.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 38 employees, 81% lower than Newcomb Spring Corp's reported 201 employees, and received an average PPP loan of $444,170, 85% lower than this company's loan of $3.04M.
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Footnotes & Information
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