PPP Loan Data — Northwest Passage, LTD, Webster, WI
Northwest Passage, LTD is a non-profit organization located at 7417 N Bass Lake Road in Webster, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $1,517,300.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bremer Bank, National Association
Northwest Passage, LTD in Webster, WI received a Paycheck Protection Loan of $1.52M through Bremer Bank, 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 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, Northwest Passage, LTD's 2019 payroll expenses are estimated to be at least $7.28M.
Based on their reported 198 jobs retained, this equals an estimated average yearly compensation of $36,783 per employee1
Reported PPP Proceed Usage:
On the PPP application, Northwest Passage, LTD reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,517,300
Business Information - Northwest Passage, LTD in Webster, WI
7417 N Bass Lake Road
Webster, WI 54893
Other Residential Care Facilities
NAICS code 623990
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, 4,850 businesses in the "Other Residential Care Facilities" industry received a total of $891.17M 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 26 employees, 87% lower than Northwest Passage, LTD's reported 198 employees, and received an average PPP loan of $183,746, 88% lower than this company's loan of $1.52M.
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Footnotes & Information
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