PPP Loan Data — The Adcom Group, Inc, Cleveland, OH
The Adcom Group, Inc is a subchapter s corporation located at 1370 W. 6th Street - 3rd Floor in Cleveland, Ohio that received a Coronavirus-related PPP loan from the SBA of $1,702,800.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Citizens Bank, National Association
The Adcom Group, Inc in Cleveland, OH received a Paycheck Protection Loan of $1.7M through Citizens Bank, National Association, which was approved in April, 2020.
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, The Adcom Group, Inc's 2019 payroll expenses are estimated to be at least $8.17M.
Based on their reported 106 jobs retained, this equals an estimated average yearly compensation of $77,108 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Adcom Group, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,702,800
Business Information - The Adcom Group, Inc in Cleveland, OH
1370 W. 6th Street - 3rd Floor
Cleveland, OH 44113
Marketing Consulting Services
NAICS code 541613
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Cleveland
In the Cleveland area, 52 businesses in the "Marketing Consulting Services" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 106) and received an average PPP loan of $81,505 (compared to this company's $1.7M).
Similar Nearby Businesses Who Received PPP Funding:
Insider Perks, Inc
James J Roop Co AKA Roop And Co
Canary Creative Communications
Cunningham Baron LLC
Industry PPP Comparison Statistics
Nationwide, 86,997 businesses in the "Marketing Consulting Services" industry received a total of $3.45B 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 3 employees, 97% lower than The Adcom Group, Inc's reported 106 employees, and received an average PPP loan of $39,652, 98% lower than this company's loan of $1.7M.
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Footnotes & Information
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