PPP Loan Data — The Paper Men LLC, Montebello, NY
The Paper Men LLC is a limited liability company (LLC) located at 400 Rella Blvd Ste. 123-124 in Montebello, New York that received a Coronavirus-related PPP loan from the SBA of $1,578,960.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Wells Fargo Bank, National Association
The Paper Men LLC in Montebello, NY received a Paycheck Protection Loan of $1.58M through Wells Fargo Bank, National Association, which was approved in May, 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 Paper Men LLC's 2019 payroll expenses are estimated to be at least $7.58M.
Based on their reported 95 jobs retained, this equals an estimated average yearly compensation of $79,779 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Paper Men LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,578,960
Business Information - The Paper Men LLC in Montebello, NY
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
PPP recipients in this industry report an average of 0 employees, 100% lower than The Paper Men LLC's reported 95 employees, and received an average PPP loan of $0, 100% lower than this company's loan of $1.58M.
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Footnotes & Information
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