PPP Loan Data — Nantucket Frameworks, Nantucket, MA
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Nantucket Frameworks is a corporation located at 37 Old South Rd Apt 14 in Nantucket, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $25,337.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Rockland Trust Company
Nantucket Frameworks in Nantucket, MA received a Paycheck Protection Loan of $25,337 through Rockland Trust Company, which was approved in January, 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, Nantucket Frameworks' 2019 payroll expenses are estimated to be at least $121,618.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,539 per employee1
Reported PPP Proceed Usage:
On the PPP application, Nantucket Frameworks reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,334
- Utilities: $1
Business Information - Nantucket Frameworks in Nantucket, MA
37 Old South Rd Apt 14
Nantucket, MA 2554
Other Personal and Household Goods Repair and Maintenance
NAICS code 811490
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Nantucket
In the Nantucket area, 2 businesses in the "Other Personal and Household Goods Repair and Maintenance" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 3) and received an average PPP loan of $25,337 (compared to this company's $25,337).
Similar Nearby Businesses Who Received PPP Funding:
Nantucket Frameworks Inc
Industry PPP Comparison Statistics
Nationwide, 26,317 businesses in the "Other Personal and Household Goods Repair and Maintenance" industry received a total of $687.28M 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 3 employees, the same amount reported by Nantucket Frameworks and received an average PPP loan of $26,116, 3% higher than this company's loan of $25,337.
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Footnotes & Information
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