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PPP Loan Data — ENE Systems, Inc, Canton, MA

ENE Systems, Inc is a corporation located at 480 Neponset St Unit 11d in Canton, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $3,198,775.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.2M

Jobs Retained:

160

Loan Approved:

2020-04-07

Lender:

HARBORONE BANK

ENE Systems, Inc in Canton, MA received a Paycheck Protection Loan of $3.2M through HARBORONE BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, ENE Systems, Inc's total 2019 payroll expenses were approximately $15.35M in order to qualify for the PPP loan amount received.

Based on their reported 160 jobs retained, this equals an estimated average yearly compensation of $95,963 per employee1.

Because the loan received by ENE Systems, 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 - ENE Systems, Inc in Canton, MA

ENE Systems, Inc
480 Neponset St Unit 11d
Canton, MA 2021

Business Industry

Automatic Environmental Control Manufacturing for Residential, Commercial, and Appliance Use (NAICS code 334512)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MA-08

Industry PPP Comparison Statistics

Nationwide, 373 businesses in the "Automatic Environmental Control Manufacturing for Residential, Commercial, and Appliance Use" industry received a total of $89,613,177.00 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 17 employees, 89% lower than ENE Systems, Inc's reported 160 employees, and received an average PPP loan of $240,250, 92% lower than this company's loan of $3.2M.

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.

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/ene-systems-inc-canton-ma