PPP Loan Data — The Nefco Holding Company I, Inc, East Hartford, CT
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 Status:Paid in Full or Forgiven
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.
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 Nefco Holding Company I, Inc's 2019 payroll expenses are estimated to be at least $23.36M.
Based on their reported 324 jobs retained, this equals an estimated average yearly compensation of $72,096 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Nefco Holding Company I, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,866,448
Business Information - The Nefco Holding Company I, Inc in East Hartford, CT
411 Burnham Street
East Hartford, CT 6108
Industrial Supplies Merchant Wholesalers
NAICS code 423840
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near East Hartford
In the East Hartford area, 2 businesses in the "Industrial Supplies Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 163 employees (compared to this company's 324) and received an average PPP loan of $2,443,640 (compared to this company's $4.87M).
Similar Nearby Businesses Who Received PPP Funding:
West Hartford, CT
Industry PPP Comparison Statistics
Nationwide, 6,361 businesses in the "Industrial Supplies Merchant Wholesalers" industry received a total of $1.02B 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 13 employees, 96% lower than The Nefco Holding Company I, Inc's reported 324 employees, and received an average PPP loan of $160,987, 97% lower than this company's loan of $4.87M.
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Footnotes & Information
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