PPP Loan Data — Nichiha USA Inc, Johns Creek, GA

Nichiha USA Inc

Entity: Corporation

Industry: Roofing Contractors

Location: Johns Creek, GA

Nichiha USA Inc is a corporation located at 6465 E Johns Xing Ste 250 in Johns Creek, Georgia that received a Coronavirus-related PPP loan from the SBA of $4,334,502.00 in April, 2020.

$ PPP Loan Information
Loan #6968307305

Loan Size:

$4.33M

Jobs Retained:

295

Loan Approved:

2020-04-30

Loan Status:

Paid in Full or Forgiven

Lender:

Bank of America, National Association

Nichiha USA Inc in Johns Creek, GA received a Paycheck Protection Loan of $4.33M through Bank of America, National Association, 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 July, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

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, Nichiha USA Inc's 2019 payroll expenses are estimated to be at least $20.81M.

Based on their reported 295 jobs retained, this equals an estimated average yearly compensation of $70,527 per employee¹

Reported PPP Proceed Usage:

On the PPP application, Nichiha USA Inc reported intending to use the proceeds of their PPP loan for the following expenses:

Payroll: $4,334,502

Because the loan received by Nichiha USA Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Nichiha USA Inc in Johns Creek, GA

Nichiha USA Inc
6465 E Johns Xing Ste 250
Johns Creek, GA 30097

Business Industry:
Roofing Contractors
NAICS code 238160

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Fulton County, GA — SBA Office 0405 — Congressional District: GA-07

Similar Companies near Johns Creek

In the Johns Creek area, 13 businesses in the "Roofing Contractors" industry received a PPP loan. These local businesses reported an average of 24 employees (compared to this company's 295) and received an average PPP loan of $347,022 (compared to this company's $4.33M).

Similar Nearby Businesses Who Received PPP Funding:

Mauli A Castillo Rodriguez
Duluth, GA

$2,187 PPP Loan

Ahmed Deen
Duluth, GA

$18,375 PPP Loan

RIC LLC
Duluth, GA

$65,763 PPP Loan

HAL Sons Roofing LLC
Duluth, GA

$9,687 PPP Loan

Samir Mattar
Duluth, GA

$1,367 PPP Loan

A H Roofing & Construction LLC
Duluth, GA

$7,431 PPP Loan

Jasmine Goodman
Duluth, GA

$12,608 PPP Loan

Silver Roof Inc
Duluth, GA

$6,200 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 28,044 businesses in the "Roofing Contractors" industry received a total of $2.86B 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 10 employees, 97% lower than Nichiha USA Inc's reported 295 employees, and received an average PPP loan of $101,969, 98% lower than this company's loan of $4.33M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.

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