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PPP Loan Data — American Superconductor Corporation, Ayer, MA

SBA PPP loan data, payroll data, and salaries for American Superconductor Corporation
MA

American Superconductor Corporation

Entity: Corporation

Industry: Power, Distribution, and Specialty Transformer Manufacturing

Location: Ayer, MA

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American Superconductor Corporation is a corporation located at 114 East Main Street in Ayer, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $2,579,900.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 143 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$2.58M

Jobs Retained:

143

Loan Approved:

2020-04-03

Lender:

MAIN STREET BANK

American Superconductor Corporation in Ayer, MA received a Paycheck Protection Loan of $2.58M through MAIN STREET BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, American Superconductor Corporation's total 2019 payroll expenses were approximately $12.38M in order to qualify for the PPP loan amount received.

Based on their reported 143 jobs retained, this equals an estimated average yearly compensation of $86,598 per employee1.

Because the loan received by American Superconductor Corporation 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 - American Superconductor Corporation in Ayer, MA

American Superconductor Corporation
114 East Main Street
Ayer, MA 01432

Business Industry

Power, Distribution, and Specialty Transformer Manufacturing (NAICS code 335311)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: MA-03

Industry PPP Comparison Statistics

Nationwide, 287 businesses in the "Power, Distribution, and Specialty Transformer Manufacturing" industry received a total of $137,311,096.00 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 33 employees, 77% lower than American Superconductor Corporation's reported 143 employees, and received an average PPP loan of $478,436, 81% lower than this company's loan of $2.58M.

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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Source: www.federalpay.org/paycheck-protection-program/american-superconductor-corporation-ayer-ma