PPP Loan Data — Henry R Kennen III, Paxton, MA
Henry R Kennen III is a sole proprietorship located at 242 Pleasant St in Paxton, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $25,323.00 in January, 2021.
The company has reported itself as a White male owned business, and employed at least six people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Henry R Kennen III in Paxton, MA received a Paycheck Protection Loan of $25,323 through Cornerstone Bank, which was approved in January, 2021.
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, Henry R Kennen III's 2019 payroll expenses are estimated to be at least $121,550.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,258 per employee1
Reported PPP Proceed Usage:
On the PPP application, Henry R Kennen III reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,323
Business Information - Henry R Kennen III in Paxton, MA
242 Pleasant St
Paxton, MA 1612
Nursery, Garden Center, and Farm Supply Stores
NAICS code 444220
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Paxton
In the Paxton area, 2 businesses in the "Nursery, Garden Center, and Farm Supply Stores" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 6) and received an average PPP loan of $22,262 (compared to this company's $25,323).
Similar Nearby Businesses Who Received PPP Funding:
Pleasant View Nursery
Industry PPP Comparison Statistics
Nationwide, 7,240 businesses in the "Nursery, Garden Center, and Farm Supply Stores" industry received a total of $689.88M 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 14 employees, 133% higher than Henry R Kennen III's reported 6 employees, and received an average PPP loan of $95,287, 276% higher than this company's loan of $25,323.
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Footnotes & Information
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