PPP Loan Data — Acushent Rubber Co Inc, New Bedford, MA
Acushent Rubber Co Inc is a corporation located at 744 Belleville Avenue in New Bedford, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $3,823,622.00 in April, 2020.
$ PPP Loan Information
Lender:HSBC BANK USA, NATIONAL ASSOCIATION
Acushent Rubber Co Inc in New Bedford, MA received a Paycheck Protection Loan of $3.82M through HSBC BANK USA, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Acushent Rubber Co Inc's total 2019 payroll expenses were approximately $18.35M in order to qualify for the PPP loan amount received.
Based on their reported 392 jobs retained, this equals an estimated average yearly compensation of $46,820 per employee1.
Business Information - Acushent Rubber Co Inc in New Bedford, MA
744 Belleville Avenue
New Bedford, MA 02745
Rubber Product Manufacturing for Mechanical Use (NAICS code 326291)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MA-09
Industry PPP Comparison Statistics
Nationwide, 177 businesses in the "Rubber Product Manufacturing for Mechanical Use" industry received a total of $97,714,291.00 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 45 employees, 89% lower than Acushent Rubber Co Inc's reported 392 employees, and received an average PPP loan of $552,058, 86% lower than this company's loan of $3.82M.
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.
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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