PPP Loan Data — National Telecommuting Institute Inc, Boston, MA
National Telecommuting Institute Inc is a non-profit organization located at 225 Friend St Ste 401 in Boston, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $1,650,277.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
National Telecommuting Institute Inc in Boston, MA received a Paycheck Protection Loan of $1.65M 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 April, 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, National Telecommuting Institute Inc's 2019 payroll expenses are estimated to be at least $7.92M.
Based on their reported 426 jobs retained, this equals an estimated average yearly compensation of $18,595 per employee1
Reported PPP Proceed Usage:
On the PPP application, National Telecommuting Institute Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,650,277
Business Information - National Telecommuting Institute Inc in Boston, MA
225 Friend St Ste 401
Boston, MA 2114
Temporary Help Services
NAICS code 561320
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Boston
In the Boston area, 2 businesses in the "Temporary Help Services" industry received a PPP loan. These local businesses reported an average of 238 employees (compared to this company's 426) and received an average PPP loan of $954,151 (compared to this company's $1.65M).
Similar Nearby Businesses Who Received PPP Funding:
MJR Management Inc
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, 88% lower than National Telecommuting Institute Inc's reported 426 employees, and received an average PPP loan of $405,841, 75% lower than this company's loan of $1.65M.
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Footnotes & Information
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