PPP Loan Data — Green Rabbit Holdings Inc, Braintree, MA
Green Rabbit Holdings Inc
Location: Braintree, MATweet This • Search All PPP Data
Green Rabbit Holdings Inc is a corporation located at 135 Lundquist Dr in Braintree, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $1,875,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:South Shore Bank
Green Rabbit Holdings Inc in Braintree, MA received a Paycheck Protection Loan of $1.88M through South Shore Bank, 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 December, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, Green Rabbit Holdings Inc's 2019 payroll expenses are estimated to be at least $9M.
Based on their reported 160 jobs retained, this equals an estimated average yearly compensation of $56,250 per employee1
Reported PPP Proceed Usage:
On the PPP application, Green Rabbit Holdings Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,875,000
Business Information - Green Rabbit Holdings Inc in Braintree, MA
135 Lundquist Dr
Braintree, MA 2184
Other Grocery and Related Products Merchant Wholesalers
NAICS code 424490
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Braintree
In the Braintree area, 4 businesses in the "Other Grocery and Related Products Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 75 employees (compared to this company's 160) and received an average PPP loan of $780,258 (compared to this company's $1.88M).
Similar Nearby Businesses Who Received PPP Funding:
Konditor Meister Inc
Jedwards International Inc
M.e.m. Distributors, Inc
Industry PPP Comparison Statistics
Nationwide, 8,316 businesses in the "Other Grocery and Related Products Merchant Wholesalers" industry received a total of $872.2M 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 12 employees, 93% lower than Green Rabbit Holdings Inc's reported 160 employees, and received an average PPP loan of $104,882, 94% lower than this company's loan of $1.88M.
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Footnotes & Information
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