PPP Loan Data — Proud Nana LLC, Bangor, ME
Proud Nana LLC is a limited liability company (LLC) located at 1129 Union St in Bangor, Maine that received a Coronavirus-related PPP loan from the SBA of $14,700.00 in February, 2021.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First National Bank
Proud Nana LLC in Bangor, ME received a Paycheck Protection Loan of $14,700 through First National Bank, which was approved in February, 2021.
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 July, 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, Proud Nana LLC's 2019 payroll expenses are estimated to be at least $70,560.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $17,640 per employee1
Reported PPP Proceed Usage:
On the PPP application, Proud Nana LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $14,696
- Utilities: $1
Business Information - Proud Nana LLC in Bangor, ME
1129 Union St
Bangor, ME 4401
NAICS code 722513
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as Proud Nana LLC.
Pet and Pet Supplies Stores
Similar Companies near Bangor
In the Bangor area, 26 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 22 employees (compared to this company's 4) and received an average PPP loan of $95,625 (compared to this company's $14,700).
Similar Nearby Businesses Who Received PPP Funding:
Artemis & Dean LLC
Papa Erdr Bangor LLC
1 Central Street LLC
JJ. Myers LLC
Industry PPP Comparison Statistics
Nationwide, 136,560 businesses in the "Limited-Service Restaurants" industry received a total of $13.87B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 21 employees, 425% higher than Proud Nana LLC's reported 4 employees, and received an average PPP loan of $101,544, 591% higher than this company's loan of $14,700.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!