PPP Loan Data — Herb Chambers Boston Post Road Inc, Sudbury, MA
Herb Chambers Boston Post Road Inc is a subchapter s corporation located at 68 Old County Rd in Sudbury, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $1,649,005.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Herb Chambers Boston Post Road Inc in Sudbury, MA received a Paycheck Protection Loan of $1.65M through Bank of America, National Association, which was approved in April, 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, Herb Chambers Boston Post Road Inc's 2019 payroll expenses are estimated to be at least $7.92M.
Based on their reported 129 jobs retained, this equals an estimated average yearly compensation of $61,358 per employee1
Reported PPP Proceed Usage:
On the PPP application, Herb Chambers Boston Post Road Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,649,005
Business Information - Herb Chambers Boston Post Road Inc in Sudbury, MA
68 Old County Rd
Sudbury, MA 1776
New Car Dealers
NAICS code 441110
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Sudbury
In the Sudbury area, 2 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 99 employees (compared to this company's 129) and received an average PPP loan of $1,267,367 (compared to this company's $1.65M).
Similar Nearby Businesses Who Received PPP Funding:
Herb Chambers Of Sudbury Inc
Industry PPP Comparison Statistics
Nationwide, 19,896 businesses in the "New Car Dealers" industry received a total of $12.31B 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 52 employees, 60% lower than Herb Chambers Boston Post Road Inc's reported 129 employees, and received an average PPP loan of $618,860, 62% lower than this company's loan of $1.65M.
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Footnotes & Information
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