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PPP Loan Data — The Nefco Holding Company I, Inc., East Hartford, CT

SBA PPP loan data, payroll data, and salaries for The Nefco Holding Company I, Inc.
CT

The Nefco Holding Company I, Inc.

Entity: Corporation

Industry: Industrial Supplies Merchant Wholesalers

Location: East Hartford, CT

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The Nefco Holding Company I, Inc. is a corporation located at 411 Burnham Street in East Hartford, Connecticut that received a Coronavirus-related PPP loan from the SBA of $4,866,448.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.87M

Jobs Retained:

240

Loan Approved:

2020-04-05

Lender:

PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION

The Nefco Holding Company I, Inc. in East Hartford, CT received a Paycheck Protection Loan of $4.87M through PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, The Nefco Holding Company I, Inc.'s total 2019 payroll expenses were approximately $23.36M in order to qualify for the PPP loan amount received.

Based on their reported 240 jobs retained, this equals an estimated average yearly compensation of $97,329 per employee1.

Because the loan received by The Nefco Holding Company I, 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 - The Nefco Holding Company I, Inc. in East Hartford, CT

The Nefco Holding Company I, Inc.
411 Burnham Street
East Hartford, CT 06108

Business Industry

Industrial Supplies Merchant Wholesalers (NAICS code 423840)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: CT-01

Industry PPP Comparison Statistics

Nationwide, 4,186 businesses in the "Industrial Supplies Merchant Wholesalers" industry received a total of $780,956,963.00 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 13 employees, 95% lower than The Nefco Holding Company I, Inc.'s reported 240 employees, and received an average PPP loan of $186,564, 96% lower than this company's loan of $4.87M.

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, and is published unmodified, as provided by the SBA.

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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.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/the-nefco-holding-company-i-inc-east-hartford-ct