Connectrn, Inc. in Waltham, MA - SBA PPP Loan Data (Paycheck Protection Program)

PPP Loan Data — Connectrn, Inc., Waltham, MA

Connectrn, Inc.

Entity: Corporation

Industry: Employment Placement Agencies

Location: Waltham, MA

Connectrn, Inc. is a corporation located at 203 Crescent Street, Suite 403 in Waltham, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $2,488,100.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.49M

Jobs Retained:

224

Loan Approved:

2020-04-15

Lender:

WESTERN ALLIANCE BANK

Connectrn, Inc. received a Paycheck Protection Loan of $2.49M through WESTERN ALLIANCE BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Connectrn, Inc.'s total 2019 payroll expenses were approximately $11.94M in order to qualify for the PPP loan amount received.

Based on their reported 224 jobs retained, this equals an estimated average yearly compensation of $53,316 per employee¹.

Because the loan received by Connectrn, Inc. 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 - Connectrn, Inc. in Waltham, MA

Connectrn, Inc.
203 Crescent Street, Suite 403
Waltham, MA 2453

Business Industry

Employment Placement Agencies (NAICS code 561311)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MA-05

Industry PPP Comparison Statistics

Nationwide, 7,294 businesses in the "Employment Placement Agencies" industry received a total of $2,648,453,106.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 38 employees, 83% lower than Connectrn, Inc.'s reported 224 employees, and received an average PPP loan of $363,100, 85% lower than this company's loan of $2.49M.

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.

Search FederalPay's Full PPP Loan Database

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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