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PPP Loan Data — Koopman Lumber Company, Inc.,
Whitinsville, MA
Koopman Lumber Company, Inc.
Entity: Subchapter S Corporation
Industry: Home Centers
Location: Whitinsville, MA
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Koopman Lumber Company, Inc. is a subchapter s corporation located at 665 Church St in Whitinsville, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $3,923,656.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
298Loan Approved:
2020-04-06Lender:
EASTERN BANKKoopman Lumber Company, Inc. in Whitinsville, MA received a Paycheck Protection Loan of $3.92M through EASTERN BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Koopman Lumber Company, Inc.'s total 2019 payroll expenses were approximately $18.83M in order to qualify for the PPP loan amount received.
Based on their reported 298 jobs retained, this equals an estimated average yearly compensation of $63,200 per employee1.
Business Information - Koopman Lumber Company, Inc. in Whitinsville, MA
665 Church St
Whitinsville, MA 1588
Business Industry
Home Centers (NAICS code 444110)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: MA-02Industry PPP Comparison Statistics
Nationwide, 2,392 businesses in the "Home Centers" industry received a total of $390,606,472.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 15 employees, 95% lower than Koopman Lumber Company, Inc.'s reported 298 employees, and received an average PPP loan of $163,297, 96% lower than this company's loan of $3.92M.
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, and is published unmodified, as provided by the SBA.
Footnotes & Information
1. 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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