PPP Loan Data — Northwestern Selecta, Inc, San Juan, PR
Northwestern Selecta, Inc is a corporation located at 599 15 St Nw in San Juan, Puerto Rico that received a Coronavirus-related PPP loan from the SBA of $1,846,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Banco Popular de Puerto Rico
Northwestern Selecta, Inc in San Juan, PR received a Paycheck Protection Loan of $1.85M through Banco Popular de Puerto Rico, 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, Northwestern Selecta, Inc's 2019 payroll expenses are estimated to be at least $8.86M.
Based on their reported 276 jobs retained, this equals an estimated average yearly compensation of $32,104 per employee1
Reported PPP Proceed Usage:
On the PPP application, Northwestern Selecta, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,707,067
- Utilities: $90,763
- Mortgage Interest: $48,170
Business Information - Northwestern Selecta, Inc in San Juan, PR
599 15 St Nw
San Juan, PR 920
Packaged Frozen Food Merchant Wholesalers
NAICS code 424420
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near San Juan
In the San Juan area, 3 businesses in the "Packaged Frozen Food Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 101 employees (compared to this company's 276) and received an average PPP loan of $688,204 (compared to this company's $1.85M).
Similar Nearby Businesses Who Received PPP Funding:
San Juan, PR
AZA Food Corp
San Juan, PR
Industry PPP Comparison Statistics
Nationwide, 1,562 businesses in the "Packaged Frozen Food Merchant Wholesalers" industry received a total of $256.37M 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 17 employees, 94% lower than Northwestern Selecta, Inc's reported 276 employees, and received an average PPP loan of $164,132, 91% lower than this company's loan of $1.85M.
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Footnotes & Information
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