PPP Loan Data — Signet Electronic Systems, Inc, Norwell, MA
Signet Electronic Systems, Inc is a subchapter s corporation located at 90 Longwater Drive in Norwell, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $3,031,197.00 in April, 2020.
$ PPP Loan Information
Signet Electronic Systems, Inc received a Paycheck Protection Loan of $3.03M through EASTERN BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Signet Electronic Systems, Inc's total 2019 payroll expenses were approximately $14.55M in order to qualify for the PPP loan amount received.
Based on their reported 166 jobs retained, this equals an estimated average yearly compensation of $87,649 per employee1.
Business Information - Signet Electronic Systems, Inc in Norwell, MA
90 Longwater Drive
Norwell, MA 2061
Security Systems Services (except Locksmiths) (NAICS code 561621)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MA-09
Similar Companies near Norwell
In the Norwell area, 2 businesses in the "Security Systems Services (except Locksmiths)" industry received a PPP loan. These local businesses reported an average of 85 employees (compared to this company's 166) and received an average PPP loan of $1,536,481 (compared to this company's $3.03M).
Similar Nearby Businesses Who Received PPP Funding:
TLC Security Solutions Inc
Industry PPP Comparison Statistics
Nationwide, 5,289 businesses in the "Security Systems Services (except Locksmiths)" industry received a total of $839,803,057.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 14 employees, 92% lower than Signet Electronic Systems, Inc's reported 166 employees, and received an average PPP loan of $158,783, 95% lower than this company's loan of $3.03M.
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Footnotes & Information
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