PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Signet Electronic Systems, Inc, Norwell, MA

SBA PPP loan data, payroll data, and salaries for Signet Electronic Systems, Inc
MA

Signet Electronic Systems, Inc

Entity: Subchapter S Corporation

Industry: Security Systems Services (except Locksmiths)

Location: Norwell, MA

Search All PPP Data

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

Loan Size:

$3.03M

Jobs Retained:

166

Loan Approved:

2020-04-07

Lender:

EASTERN BANK

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.

Because the loan received by Signet Electronic Systems, Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Signet Electronic Systems, Inc in Norwell, MA

Signet Electronic Systems, Inc
90 Longwater Drive
Norwell, MA 2061

Business Industry

Security Systems Services (except Locksmiths) (NAICS code 561621)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional 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
Norwood, MA

$41,765 PPP Loan

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.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


Have FederalPay.org's open data tools been valuable? Consider donating!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/signet-electronic-systems-inc-norwell-ma