PPP Loan Data — New England Motel & Antiques Market, Inc, Fiskdale, MA
New England Motel & Antiques Market, Inc is a corporation located at 1 Crescent Way in Fiskdale, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Country Bank for Savings
New England Motel & Antiques Market, Inc in Fiskdale, MA received a Paycheck Protection Loan of $25,000 through Country Bank for Savings, which was approved in April, 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 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, New England Motel & Antiques Market, Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, New England Motel & Antiques Market, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - New England Motel & Antiques Market, Inc in Fiskdale, MA
1 Crescent Way
Fiskdale, MA 1518
Hotels (except Casino Hotels) and Motels
NAICS code 721110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Fiskdale
In the Fiskdale area, 3 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 3) and received an average PPP loan of $52,300 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Sturbridge Lg LLC
Sturbridge Lg LLC
Industry PPP Comparison Statistics
Nationwide, 82,605 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $13.95B 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 23 employees, 667% higher than New England Motel & Antiques Market, Inc's reported 3 employees, and received an average PPP loan of $168,829, 575% higher than this company's loan of $25,000.
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Footnotes & Information
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