PPP Loan Data — Nexgen Industrial Services, Inc, Rices Landing, PA
Nexgen Industrial Services, Inc is a corporation located at 125 Long Street in Rices Landing, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $1,994,805.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Nexgen Industrial Services, Inc in Rices Landing, PA received a Paycheck Protection Loan of $1.99M through Community Bank, 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, Nexgen Industrial Services, Inc's 2019 payroll expenses are estimated to be at least $9.58M.
Based on their reported 97 jobs retained, this equals an estimated average yearly compensation of $98,712 per employee1
Reported PPP Proceed Usage:
On the PPP application, Nexgen Industrial Services, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,994,805
Business Information - Nexgen Industrial Services, Inc in Rices Landing, PA
125 Long Street
Rices Landing, PA 15357
All Other Specialty Trade Contractors
NAICS code 238990
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Rices Landing
In the Rices Landing area, 3 businesses in the "All Other Specialty Trade Contractors" industry received a PPP loan. These local businesses reported an average of 36 employees (compared to this company's 97) and received an average PPP loan of $681,698 (compared to this company's $1.99M).
Similar Nearby Businesses Who Received PPP Funding:
7 One Eight Design Build LLC
Rices Landing, PA
Industry PPP Comparison Statistics
Nationwide, 93,400 businesses in the "All Other Specialty Trade Contractors" industry received a total of $8.04B 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 8 employees, 92% lower than Nexgen Industrial Services, Inc's reported 97 employees, and received an average PPP loan of $86,076, 96% lower than this company's loan of $1.99M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!