PPP Loan Data — Mainsail Group, Inc, Bedford, MA
Mainsail Group, Inc is a corporation located at 200 Hanscom Drive Suite 121 in Bedford, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $1,886,000.00 in April, 2020.
The company has reported itself as a White male veteran owned business, and employed at least 100 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Mainsail Group, Inc in Bedford, MA received a Paycheck Protection Loan of $1.89M through Berkshire 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, Mainsail Group, Inc's 2019 payroll expenses are estimated to be at least $9.05M.
Based on their reported 100 jobs retained, this equals an estimated average yearly compensation of $90,528 per employee1
Reported PPP Proceed Usage:
On the PPP application, Mainsail Group, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $754,400
- Rent: $1,131,600
Business Information - Mainsail Group, Inc in Bedford, MA
200 Hanscom Drive Suite 121
Bedford, MA 1730
Temporary Help Services
NAICS code 561320
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 8,994 businesses in the "Temporary Help Services" industry received a total of $3.65B 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 51 employees, 49% lower than Mainsail Group, Inc's reported 100 employees, and received an average PPP loan of $405,841, 78% lower than this company's loan of $1.89M.
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Footnotes & Information
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