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PPP Loan Data — Connexion Systems And Engineering, Inc., Sudbury, MA

SBA PPP loan data, payroll data, and salaries for Connexion Systems And Engineering, Inc.
MA

Connexion Systems And Engineering, Inc.

Entity: Corporation

Industry: Employment Placement Agencies

Location: Sudbury, MA

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Connexion Systems And Engineering, Inc. is a corporation located at 490 Boston Post Rd in Sudbury, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $2,516,500.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.52M

Jobs Retained:

209

Loan Approved:

2020-04-11

Lender:

BERKSHIRE BANK

Connexion Systems And Engineering, Inc. in Sudbury, MA received a Paycheck Protection Loan of $2.52M through BERKSHIRE BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Connexion Systems And Engineering, Inc.'s total 2019 payroll expenses were approximately $12.08M in order to qualify for the PPP loan amount received.

Based on their reported 209 jobs retained, this equals an estimated average yearly compensation of $57,795 per employee1.

Because the loan received by Connexion Systems And Engineering, 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 - Connexion Systems And Engineering, Inc. in Sudbury, MA

Connexion Systems And Engineering, Inc.
490 Boston Post Rd
Sudbury, MA 1776

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, 82% lower than Connexion Systems And Engineering, Inc.'s reported 209 employees, and received an average PPP loan of $363,100, 86% lower than this company's loan of $2.52M.

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/connexion-systems-and-engineering-inc-sudbury-ma