PPP Loan Data — The Day Publishing Co, New London, CT
The Day Publishing Co is a corporation located at 47 Eugene Oneill Dr in New London, Connecticut that received a Coronavirus-related PPP loan from the SBA of $1,820,800.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
The Day Publishing Co in New London, CT received a Paycheck Protection Loan of $1.82M through Liberty 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 May, 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, The Day Publishing Co's 2019 payroll expenses are estimated to be at least $8.74M.
Based on their reported 199 jobs retained, this equals an estimated average yearly compensation of $43,919 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Day Publishing Co reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,820,800
Business Information - The Day Publishing Co in New London, CT
47 Eugene Oneill Dr
New London, CT 6320
NAICS code 511110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 5,172 businesses in the "Newspaper Publishers" industry received a total of $790.86M 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 18 employees, 91% lower than The Day Publishing Co's reported 199 employees, and received an average PPP loan of $152,912, 92% lower than this company's loan of $1.82M.
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Footnotes & Information
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