PPP Loan Data — NER Construction Management Corporation, Wilmington, MA
NER Construction Management Corporation
Location: Wilmington, MATweet This • Search All PPP Data
NER Construction Management Corporation is a corporation located at 867 Woburn Street in Wilmington, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $3,255,465.00 in April, 2020.
The company has reported itself as a White owned business, and employed at least 111 people during the applicable loan loan period.
$ PPP Loan Information
Lender:FIDELITY CO-OPERATIVE BANK
NER Construction Management Corporation received a Paycheck Protection Loan of $3.26M through FIDELITY CO-OPERATIVE BANK, which was approved in April, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 111 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 156.
Based on standard PPP eligibility rules, NER Construction Management Corporation's total 2019 payroll expenses were approximately $15.63M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 111 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - NER Construction Management Corporation in Wilmington, MA
867 Woburn Street
Wilmington, MA 1887
Commercial and Institutional Building Construction (NAICS code 236220)
Business Owner Demographics
Race / Ethnicity: WHITE
Veteran Status: UnreportedCongressional District: MA-06
Similar Companies near Wilmington
In the Wilmington area, 13 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 23 employees (compared to this company's 111) and received an average PPP loan of $572,820 (compared to this company's $3.26M).
Similar Nearby Businesses Who Received PPP Funding:
Channel Building Company, Inc.
D Pro Contracting
Trinity Building And Construction Management Corp
Knollmeyer Building Corporation
Silver Phoenix Construction Inc
Stella Construction And Home Services LLC
Pimentel Construction Co Inc
RBL America Corp
Industry PPP Comparison Statistics
Nationwide, 39,925 businesses in the "Commercial and Institutional Building Construction" industry received a total of $8,114,153,480.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 13 employees, 88% lower than NER Construction Management Corporation's reported 111 employees, and received an average PPP loan of $203,235, 94% lower than this company's loan of $3.26M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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