PPP Loan Data — Norcom, Inc, Griffin, GA
Entity: Subchapter S Corporation
Location: Griffin, GATweet This • Search All PPP Data
Norcom, Inc is a subchapter s corporation located at 200 Wilson Road in Griffin, Georgia that received a Coronavirus-related PPP loan from the SBA of $1,767,200.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 127 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First National Bank of Griffin
Norcom, Inc in Griffin, GA received a Paycheck Protection Loan of $1.77M through First National Bank of Griffin, 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 January, 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, Norcom, Inc's 2019 payroll expenses are estimated to be at least $8.48M.
Based on their reported 127 jobs retained, this equals an estimated average yearly compensation of $66,792 per employee1
Reported PPP Proceed Usage:
On the PPP application, Norcom, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,546,300
- Utilities: $220,900
Business Information - Norcom, Inc in Griffin, GA
200 Wilson Road
Griffin, GA 30223
Stationery and Office Supplies Merchant Wholesalers
NAICS code 424120
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 2,015 businesses in the "Stationery and Office Supplies Merchant Wholesalers" industry received a total of $213.35M 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, 92% lower than Norcom, Inc's reported 127 employees, and received an average PPP loan of $105,881, 94% lower than this company's loan of $1.77M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!