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

PPP Loan Data — Claims Bureau USA Inc, Woburn, MA

ALERT: There are 2 PPP loans for a total of $2.64M in our database for businesses with the name "Claims Bureau USA Inc" in Woburn, 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 Claims Bureau USA Inc
MA

Claims Bureau USA Inc

Entity: Corporation

Industry: Claims Adjusting

Location: Woburn, MA

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Claims Bureau USA Inc is a corporation located at 7 Constitution Way in Woburn, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $1,272,290.00 in February, 2021.

$ PPP Loan Information Loan #1621458505

Loan Size:

$1.27M

Jobs Retained:

154

Loan Approved:

2021-02-19

Loan Status:

Ongoing Loan

Lender:

LendingClub Bank, National Association

Claims Bureau USA Inc in Woburn, MA received a Paycheck Protection Loan of $1.27M through LendingClub Bank, National Association, which was approved in February, 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, Claims Bureau USA Inc's 2019 payroll expenses are estimated to be at least $6.11M.

Based on their reported 154 jobs retained, this equals an estimated average yearly compensation of $39,656 per employee1

Reported PPP Proceed Usage:

On the PPP application, Claims Bureau USA Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,272,287
  • Utilities: $1

Business Information - Claims Bureau USA Inc in Woburn, MA

Claims Bureau USA Inc
7 Constitution Way
Woburn, MA 1801

Business Industry:
Claims Adjusting
NAICS code 524291

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Middlesex County, MA — SBA Office 0101 — Congressional District: MA-05

Industry PPP Comparison Statistics

Nationwide, 4,139 businesses in the "Claims Adjusting" industry received a total of $256,898,357.00 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 5 employees, 97% lower than Claims Bureau USA Inc's reported 154 employees, and received an average PPP loan of $62,068, 95% lower than this company's loan of $1.27M.

SBA PPP loan data, payroll data, and salaries for Claims Bureau USA, Inc
MA

Claims Bureau USA, Inc

Entity: Corporation

Industry: All Other Insurance Related Activities

Location: Woburn, MA

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Claims Bureau USA, Inc is a corporation located at 7 Constitution Way in Woburn, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $1,370,223.00 in April, 2020.

$ PPP Loan Information Loan #9692477007

Loan Size:

$1.37M

Jobs Retained:

189

Loan Approved:

2020-04-09

Loan Status:

Paid in Full or Forgiven

Lender:

LendingClub Bank, National Association

Claims Bureau USA, Inc in Woburn, MA received a Paycheck Protection Loan of $1.37M through LendingClub Bank, National Association, which was approved in April, 2020.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in March, 2021.

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, Claims Bureau USA, Inc's 2019 payroll expenses are estimated to be at least $6.58M.

Based on their reported 189 jobs retained, this equals an estimated average yearly compensation of $34,799 per employee1

Reported PPP Proceed Usage:

On the PPP application, Claims Bureau USA, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,370,223

Business Information - Claims Bureau USA, Inc in Woburn, MA

Claims Bureau USA, Inc
7 Constitution Way
Woburn, MA 1801

Business Industry:
All Other Insurance Related Activities
NAICS code 524298

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Middlesex County, MA — SBA Office 0101 — Congressional District: MA-05

Industry PPP Comparison Statistics

Nationwide, 9,386 businesses in the "All Other Insurance Related Activities" industry received a total of $486,985,807.00 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 5 employees, 97% lower than Claims Bureau USA, Inc's reported 189 employees, and received an average PPP loan of $51,884, 96% lower than this company's loan of $1.37M.

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/claims-bureau-usa-inc-woburn-ma