PPP Loan Data — Scott A. Lindsay & Associates, Portland, ME
Scott A. Lindsay & Associates is a limited liability company (LLC) located at 136 Commercial Street in Portland, Maine that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Gorham Savings Bank
Scott A. Lindsay & Associates in Portland, ME received a Paycheck Protection Loan of $25,000 through Gorham 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 March, 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, Scott A. Lindsay & Associates' 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Scott A. Lindsay & Associates reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Scott A. Lindsay & Associates in Portland, ME
136 Commercial Street
Portland, ME 4101
Ice Cream and Frozen Dessert Manufacturing
NAICS code 311520
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Portland
In the Portland area, 3 businesses in the "Ice Cream and Frozen Dessert Manufacturing" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 3) and received an average PPP loan of $19,961 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Sticky Sweet LLC
Industry PPP Comparison Statistics
Nationwide, 2,071 businesses in the "Ice Cream and Frozen Dessert Manufacturing" industry received a total of $121.3M 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, 300% higher than Scott A. Lindsay & Associates' reported 3 employees, and received an average PPP loan of $58,571, 134% higher than this company's loan of $25,000.
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Footnotes & Information
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