PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Boston City Florist Inc, Boston, MA

ALERT: There are 2 PPP loans for a total of $48,055 in our database for businesses with the name "Boston City Florist Inc" in Boston, MA. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Boston City Florist Inc
MA

Boston City Florist Inc

Entity: Corporation

Industry: All Other Miscellaneous Store Retailers (except Tobacco Stores)

Location: Boston, MA

Search All PPP Data

Boston City Florist Inc is a corporation located at 714 Commonwealth Ave in Boston, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $25,255.00 in January, 2021.

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

$ PPP Loan Information
Loan #9703398304

Loan Size:

$25,255

Jobs Retained:

9

Loan Approved:

2021-01-31

Loan Status:

Ongoing Loan

Lender:

Citizens Bank, National Association

Boston City Florist Inc in Boston, MA received a Paycheck Protection Loan of $25,255 through Citizens Bank, National Association, which was approved in January, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Boston City Florist Inc's 2019 payroll expenses are estimated to be at least $121,224.

Based on their reported 9 jobs retained, this equals an estimated average yearly compensation of $13,469 per employee1

Reported PPP Proceed Usage:

On the PPP application, Boston City Florist Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $25,253
  • Utilities: $1

Business Information - Boston City Florist Inc in Boston, MA

Boston City Florist Inc
714 Commonwealth Ave
Boston, MA 2215

Business Owner Demographics

Race: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: Y

Rural / Urban: Urban

Suffolk County, MA — SBA Office 0101 — Congressional District: MA-07

Similar Companies near Boston

In the Boston area, 2 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 9) and received an average PPP loan of $29,403 (compared to this company's $25,255).

Similar Nearby Businesses Who Received PPP Funding:

In Your Ear Records LTD
Boston, MA

$33,551 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 152,436 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a total of $5.23B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 4 employees, 56% lower than Boston City Florist Inc's reported 9 employees, and received an average PPP loan of $34,329, 36% higher than this company's loan of $25,255.

SBA PPP loan data, payroll data, and salaries for Boston City Florist, Inc
MA

Boston City Florist, Inc

Entity: Corporation

Industry: Florists

Location: Boston, MA

Search All PPP Data

Boston City Florist, Inc is a corporation located at 714 Commonwealth Avenue in Boston, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $22,800.00 in May, 2020.

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

$ PPP Loan Information
Loan #9502017706

Loan Size:

$22,800

Jobs Retained:

20

Loan Approved:

2020-05-01

Loan Status:

Ongoing Loan

Lender:

Citizens Bank, National Association

Boston City Florist, Inc in Boston, MA received a Paycheck Protection Loan of $22,800 through Citizens Bank, National Association, which was approved in May, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Boston City Florist, Inc's 2019 payroll expenses are estimated to be at least $109,440.

Based on their reported 20 jobs retained, this equals an estimated average yearly compensation of $5,472 per employee1

Reported PPP Proceed Usage:

On the PPP application, Boston City Florist, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $22,800

Business Information - Boston City Florist, Inc in Boston, MA

Boston City Florist, Inc
714 Commonwealth Avenue
Boston, MA 2215

Business Industry:
Florists
NAICS code 453110

Business Owner Demographics

Race: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: Y

Rural / Urban: Urban

Suffolk County, MA — SBA Office 0101 — Congressional District: MA-07

Industry PPP Comparison Statistics

Nationwide, 14,164 businesses in the "Florists" industry received a total of $379.04M 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 5 employees, 75% lower than Boston City Florist, Inc's reported 20 employees, and received an average PPP loan of $26,761, 17% higher than this company's loan of $22,800.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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/boston-city-florist-inc-boston-ma