PPP Loan Data — Newton Distributing Company, Dothan, AL
Newton Distributing Company
Entity: Sole Proprietorship
Location: Dothan, ALTweet This • Search All PPP Data
Newton Distributing Company is a sole proprietorship located at 13 Middlefield Lane in Dothan, Alabama that received a Coronavirus-related PPP loan from the SBA of $25,129.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:HNB First Bank
Newton Distributing Company in Dothan, AL received a Paycheck Protection Loan of $25,129 through HNB First 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 February, 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, Newton Distributing Company's 2019 payroll expenses are estimated to be at least $120,619.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,310 per employee1
Reported PPP Proceed Usage:
On the PPP application, Newton Distributing Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,129
Business Information - Newton Distributing Company in Dothan, AL
13 Middlefield Lane
Dothan, AL 36301
Motor Vehicle Supplies and New Parts Merchant Wholesalers
NAICS code 423120
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 5,778 businesses in the "Motor Vehicle Supplies and New Parts Merchant Wholesalers" industry received a total of $789.24M 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 14 employees, 600% higher than Newton Distributing Company's reported 2 employees, and received an average PPP loan of $136,595, 444% higher than this company's loan of $25,129.
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Footnotes & Information
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