PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Jackson Enterprise Inc, Lawrence, MA

ALERT: There are 2 PPP loans for a total of $80,640 in our database for businesses with the name "Jackson Enterprise Inc" in Lawrence, MA. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Jackson Enterprise Inc
MA

Jackson Enterprise Inc

Entity: Corporation

Industry: Cafeterias, Grill Buffets, and Buffets

Location: Lawrence, MA

Search All PPP Data

Jackson Enterprise Inc is a corporation located at 256 - 262 Essex St in Lawrence, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $47,040.00 in January, 2021.

The company has reported itself as a Black or african american male owned business, and employed at least eight people during the applicable loan loan period.

$ PPP Loan Information
Loan #2595138307

Loan Size:

$47,040

Jobs Retained:

8

Loan Approved:

2021-01-21

Loan Status:

Ongoing Loan

Lender:

Citizens Bank, National Association

Jackson Enterprise Inc in Lawrence, MA received a Paycheck Protection Loan of $47,040 through Citizens Bank, National Association, which was approved in January, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Jackson Enterprise Inc's 2019 payroll expenses are estimated to be at least $225,792.

Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $28,224 per employee1

Reported PPP Proceed Usage:

On the PPP application, Jackson Enterprise Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $47,038
  • Utilities: $1

Business Information - Jackson Enterprise Inc in Lawrence, MA

Jackson Enterprise Inc
256 - 262 Essex St
Lawrence, MA 1840

Business Industry:
Cafeterias, Grill Buffets, and Buffets
NAICS code 722514

Business Owner Demographics

Race: Black or African American

Ethnicity: Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Essex County, MA — SBA Office 0101 — Congressional District: MA-03

Similar Companies near Lawrence

In the Lawrence area, 3 businesses in the "Cafeterias, Grill Buffets, and Buffets" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 8) and received an average PPP loan of $41,274 (compared to this company's $47,040).

Similar Nearby Businesses Who Received PPP Funding:

Grumpy Grande Corporation
Lawrence, MA

$43,183 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 6,055 businesses in the "Cafeterias, Grill Buffets, and Buffets" industry received a total of $409.46M 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, 50% higher than Jackson Enterprise Inc's reported 8 employees, and received an average PPP loan of $67,624, 44% higher than this company's loan of $47,040.

SBA PPP loan data, payroll data, and salaries for Jackson Enterprise, Inc
MA

Jackson Enterprise, Inc

Entity: Corporation

Industry: Cafeterias, Grill Buffets, and Buffets

Location: Lawrence, MA

Search All PPP Data

Jackson Enterprise, Inc is a corporation located at 256 - 262 Essex St 2 in Lawrence, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $33,600.00 in April, 2020.

The company has reported itself as a Black or african american male owned business, and employed at least five people during the applicable loan loan period.

$ PPP Loan Information
Loan #7414747300

Loan Size:

$33,600

Jobs Retained:

5

Loan Approved:

2020-04-30

Loan Status:

Ongoing Loan

Lender:

Citizens Bank, National Association

Jackson Enterprise, Inc in Lawrence, MA received a Paycheck Protection Loan of $33,600 through Citizens Bank, National Association, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Jackson Enterprise, Inc's 2019 payroll expenses are estimated to be at least $161,280.

Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $32,256 per employee1

Reported PPP Proceed Usage:

On the PPP application, Jackson Enterprise, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $33,600

Business Information - Jackson Enterprise, Inc in Lawrence, MA

Jackson Enterprise, Inc
256 - 262 Essex St 2
Lawrence, MA 1840

Business Industry:
Cafeterias, Grill Buffets, and Buffets
NAICS code 722514

Business Owner Demographics

Race: Black or African American

Ethnicity: Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

Essex County, MA — SBA Office 0101 — Congressional District: MA-03

Similar Companies near Lawrence

In the Lawrence area, 3 businesses in the "Cafeterias, Grill Buffets, and Buffets" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 5) and received an average PPP loan of $41,274 (compared to this company's $33,600).

Similar Nearby Businesses Who Received PPP Funding:

Grumpy Grande Corporation
Lawrence, MA

$43,183 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 6,055 businesses in the "Cafeterias, Grill Buffets, and Buffets" industry received a total of $409.46M 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, 140% higher than Jackson Enterprise, Inc's reported 5 employees, and received an average PPP loan of $67,624, 101% higher than this company's loan of $33,600.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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Source: www.federalpay.org/paycheck-protection-program/jackson-enterprise-inc-lawrence-ma