PPP Loan Data — Norway Country Club, Norway, ME
Norway Country Club is a corporation located at P O Box 393 in Norway, Maine that received a Coronavirus-related PPP loan from the SBA of $25,113.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Norway Savings Bank
Norway Country Club in Norway, ME received a Paycheck Protection Loan of $25,113 through Norway Savings Bank, 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 February, 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, Norway Country Club's 2019 payroll expenses are estimated to be at least $120,542.
Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $12,054 per employee1
Reported PPP Proceed Usage:
On the PPP application, Norway Country Club reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,113
Business Information - Norway Country Club in Norway, ME
P O Box 393
Norway, ME 4268
Golf Courses and Country Clubs
NAICS code 713910
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 9,352 businesses in the "Golf Courses and Country Clubs" industry received a total of $1.3B 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 28 employees, 180% higher than Norway Country Club's reported 10 employees, and received an average PPP loan of $139,292, 455% higher than this company's loan of $25,113.
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Footnotes & Information
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