PPP Loan Data — Saturn Systems Of Maine, Inc, Waterville, ME
Saturn Systems Of Maine, Inc is a corporation located at 54 Main Street in Waterville, Maine that received a Coronavirus-related PPP loan from the SBA of $46,300.00 in June, 2020.
The company has reported itself as a White male owned business, and employed at least six people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bangor Savings Bank
Saturn Systems Of Maine, Inc in Waterville, ME received a Paycheck Protection Loan of $46,300 through Bangor Savings Bank, which was approved in June, 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 April, 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, Saturn Systems Of Maine, Inc's 2019 payroll expenses are estimated to be at least $222,240.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $37,040 per employee1
Reported PPP Proceed Usage:
On the PPP application, Saturn Systems Of Maine, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,300
Business Information - Saturn Systems Of Maine, Inc in Waterville, ME
54 Main Street
Waterville, ME 4901
Commercial Printing (except Screen and Books)
NAICS code 323111
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 23,988 businesses in the "Commercial Printing (except Screen and Books)" industry received a total of $3.07B 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 12 employees, 100% higher than Saturn Systems Of Maine, Inc's reported 6 employees, and received an average PPP loan of $128,160, 177% higher than this company's loan of $46,300.
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Footnotes & Information
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