PPP Loan Data — Mass Movement, Inc, Foxborough, MA
Mass Movement, Inc is a corporation located at 65 Green St in Foxborough, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $1,933,940.00 in May, 2020.
The company has reported itself as a White male owned business, and employed at least 168 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Mass Movement, Inc in Foxborough, MA received a Paycheck Protection Loan of $1.93M through Bank of America, National Association, which was approved in May, 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 March, 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, Mass Movement, Inc's 2019 payroll expenses are estimated to be at least $9.28M.
Based on their reported 168 jobs retained, this equals an estimated average yearly compensation of $55,255 per employee1
Reported PPP Proceed Usage:
On the PPP application, Mass Movement, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,933,940
Business Information - Mass Movement, Inc in Foxborough, MA
65 Green St
Foxborough, MA 2035
Used Household and Office Goods Moving
NAICS code 484210
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Foxborough
In the Foxborough area, 3 businesses in the "Used Household and Office Goods Moving" industry received a PPP loan. These local businesses reported an average of 92 employees (compared to this company's 168) and received an average PPP loan of $974,283 (compared to this company's $1.93M).
Similar Nearby Businesses Who Received PPP Funding:
Patriot Relocation Services Inc
Industry PPP Comparison Statistics
Nationwide, 11,089 businesses in the "Used Household and Office Goods Moving" industry received a total of $902.36M 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 10 employees, 94% lower than Mass Movement, Inc's reported 168 employees, and received an average PPP loan of $81,374, 96% lower than this company's loan of $1.93M.
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Footnotes & Information
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