PPP Loan Data — Industrial Economics, Incorporated, Cambridge, MA
Industrial Economics, Incorporated
Location: Cambridge, MATweet This • Search All PPP Data
Industrial Economics, Incorporated is a corporation located at 2067 Massachusetts Ave in Cambridge, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $2,116,307.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Cambridge Savings Bank
Industrial Economics, Incorporated in Cambridge, MA received a Paycheck Protection Loan of $2.12M through Cambridge Savings Bank, 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, Industrial Economics, Incorporated's 2019 payroll expenses are estimated to be at least $10.16M.
Based on their reported 123 jobs retained, this equals an estimated average yearly compensation of $82,588 per employee1
Reported PPP Proceed Usage:
On the PPP application, Industrial Economics, Incorporated reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,587,230
- Utilities: $529,077
Business Information - Industrial Economics, Incorporated in Cambridge, MA
2067 Massachusetts Ave
Cambridge, MA 2140
Other Scientific and Technical Consulting Services
NAICS code 541690
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Cambridge
In the Cambridge area, 8 businesses in the "Other Scientific and Technical Consulting Services" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 123) and received an average PPP loan of $279,310 (compared to this company's $2.12M).
Similar Nearby Businesses Who Received PPP Funding:
Charles E. Leiserson
Boreas Renewables LLC
Lighting Research Solutions LLC
Industry PPP Comparison Statistics
Nationwide, 28,306 businesses in the "Other Scientific and Technical Consulting Services" industry received a total of $2.1B 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 6 employees, 95% lower than Industrial Economics, Incorporated's reported 123 employees, and received an average PPP loan of $74,096, 96% lower than this company's loan of $2.12M.
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Footnotes & Information
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