PPP Loan Data — Norton Packaging, Inc, Hayward, CA
Norton Packaging, Inc is a corporation located at 20670 Corsair Blvd in Hayward, California that received a Coronavirus-related PPP loan from the SBA of $2,447,500.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of the West
Norton Packaging, Inc in Hayward, CA received a Paycheck Protection Loan of $2.45M through Bank of the West, 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, Norton Packaging, Inc's 2019 payroll expenses are estimated to be at least $11.75M.
Based on their reported 236 jobs retained, this equals an estimated average yearly compensation of $49,780 per employee1
Reported PPP Proceed Usage:
On the PPP application, Norton Packaging, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,447,500
Business Information - Norton Packaging, Inc in Hayward, CA
20670 Corsair Blvd
Hayward, CA 94545
Packaging and Labeling Services
NAICS code 561910
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Hayward
In the Hayward area, 3 businesses in the "Packaging and Labeling Services" industry received a PPP loan. These local businesses reported an average of 80 employees (compared to this company's 236) and received an average PPP loan of $832,691 (compared to this company's $2.45M).
Similar Nearby Businesses Who Received PPP Funding:
International Food Packaging Inc
Industry PPP Comparison Statistics
Nationwide, 2,744 businesses in the "Packaging and Labeling Services" industry received a total of $380.14M 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 15 employees, 94% lower than Norton Packaging, Inc's reported 236 employees, and received an average PPP loan of $138,534, 94% lower than this company's loan of $2.45M.
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Footnotes & Information
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