PPP Loan Data — Newman Signs Inc, Jamestown, ND
Newman Signs Inc is a corporation located at 1606 6th Ave Sw in Jamestown, North Dakota that received a Coronavirus-related PPP loan from the SBA of $1,565,100.00 in April, 2020.
The company has reported itself as a White female owned business, and employed at least 122 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Newman Signs Inc in Jamestown, ND received a Paycheck Protection Loan of $1.57M through Bank Forward, 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, Newman Signs Inc's 2019 payroll expenses are estimated to be at least $7.51M.
Based on their reported 122 jobs retained, this equals an estimated average yearly compensation of $61,578 per employee1
Reported PPP Proceed Usage:
On the PPP application, Newman Signs Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,252,100
- Utilities: $313,000
Business Information - Newman Signs Inc in Jamestown, ND
1606 6th Ave Sw
Jamestown, ND 58401
NAICS code 339950
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 9,571 businesses in the "Sign Manufacturing" industry received a total of $1.05B 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 11 employees, 91% lower than Newman Signs Inc's reported 122 employees, and received an average PPP loan of $109,484, 93% lower than this company's loan of $1.57M.
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Footnotes & Information
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