PPP Loan Data — Holt And Bugbee Company, Tewksbury, MA
Holt And Bugbee Company
Entity: Subchapter S Corporation
Location: Tewksbury, MATweet This • Search All PPP Data
Holt And Bugbee Company is a subchapter s corporation located at 1600 Shawsheen St in Tewksbury, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $2,606,902.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Rockland Trust Company
Holt And Bugbee Company in Tewksbury, MA received a Paycheck Protection Loan of $2.61M through Rockland Trust Company, 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, Holt And Bugbee Company's 2019 payroll expenses are estimated to be at least $12.51M.
Based on their reported 185 jobs retained, this equals an estimated average yearly compensation of $67,639 per employee1
Reported PPP Proceed Usage:
On the PPP application, Holt And Bugbee Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,606,902
Business Information - Holt And Bugbee Company in Tewksbury, MA
1600 Shawsheen St
Tewksbury, MA 1876
Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers
NAICS code 423310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 5,326 businesses in the "Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers" industry received a total of $1.04B 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 18 employees, 90% lower than Holt And Bugbee Company's reported 185 employees, and received an average PPP loan of $194,849, 93% lower than this company's loan of $2.61M.
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Footnotes & Information
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