PPP Loan Data — James T. Lynch Construction Co., Inc, Andover, MA
James T. Lynch Construction Co., Inc is a corporation located at 77 Lowell Junction Rd in Andover, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $1,807,400.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 159 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
James T. Lynch Construction Co., Inc in Andover, MA received a Paycheck Protection Loan of $1.81M through Eastern Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in April, 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, James T. Lynch Construction Co., Inc's 2019 payroll expenses are estimated to be at least $8.68M.
Based on their reported 159 jobs retained, this equals an estimated average yearly compensation of $54,563 per employee1
Reported PPP Proceed Usage:
On the PPP application, James T. Lynch Construction Co., Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,807,400
Business Information - James T. Lynch Construction Co., Inc in Andover, MA
77 Lowell Junction Rd
Andover, MA 1810
Site Preparation Contractors
NAICS code 238910
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 Andover
In the Andover area, 8 businesses in the "Site Preparation Contractors" industry received a PPP loan. These local businesses reported an average of 44 employees (compared to this company's 159) and received an average PPP loan of $493,869 (compared to this company's $1.81M).
Similar Nearby Businesses Who Received PPP Funding:
Synergy Contracting Inc
J.w. Watson, Jr. Excavating Inc
WH Ferris Landscaping LLC
J.w. Watson Jr. Paving, Inc
James T Lynch Constructi
Wildwood Excavation Inc
Mcquade Paving And Excavating
Industry PPP Comparison Statistics
Nationwide, 30,927 businesses in the "Site Preparation Contractors" industry received a total of $4.31B 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 12 employees, 92% lower than James T. Lynch Construction Co., Inc's reported 159 employees, and received an average PPP loan of $139,293, 92% lower than this company's loan of $1.81M.
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Footnotes & Information
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