Mass Park, Inc. in Springfield, MA - SBA PPP Loan Data (Paycheck Protection Program)

PPP Loan Data — Mass Park, Inc., Springfield, MA

Mass Park, Inc.

Entity: Corporation

Industry: Parking Lots and Garages

Location: Springfield, MA

Mass Park, Inc. is a corporation located at 185 Spring St in Springfield, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $3,700,000.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 500 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$3.7M

Jobs Retained:

500

Loan Approved:

2020-04-09

Lender:

WEBSTER FIVE CENTS SAVINGS BANK

Mass Park, Inc. in Springfield, MA received a Paycheck Protection Loan of $3.7M through WEBSTER FIVE CENTS SAVINGS BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Mass Park, Inc.'s total 2019 payroll expenses were approximately $17.76M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $35,520 per employee¹.

Because the loan received by Mass Park, Inc. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Mass Park, Inc. in Springfield, MA

Mass Park, Inc.
185 Spring St
Springfield, MA 1105

Business Industry

Parking Lots and Garages (NAICS code 812930)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: Unreported

Congressional District: MA-01

Industry PPP Comparison Statistics

Nationwide, 1,831 businesses in the "Parking Lots and Garages" industry received a total of $286,968,643.00 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 21 employees, 96% lower than Mass Park, Inc.'s reported 500 employees, and received an average PPP loan of $156,728, 96% lower than this company's loan of $3.7M.

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.

Search FederalPay's Full PPP Loan Database

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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