PPP Loan Data — New England Pirate Museum Inc, Salem, MA
New England Pirate Museum Inc is a corporation located at 274 Derby St in Salem, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $38,737.00 in June, 2020.
$ PPP Loan Information
Lender:PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION
New England Pirate Museum Inc received a Paycheck Protection Loan of $38,737 through PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION, which was approved in June, 2020.
Based on standard PPP eligibility rules, New England Pirate Museum Inc's total 2019 payroll expenses were approximately $185,938 in order to qualify for the PPP loan amount received.
Based on their reported 9 jobs retained, this equals an estimated average yearly compensation of $20,660 per employee1.
Business Information - New England Pirate Museum Inc in Salem, MA
274 Derby St
Salem, MA 1970
Museums (NAICS code 712110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MA-06
Similar Companies near Salem
In the Salem area, 6 businesses in the "Museums" industry received a PPP loan. These local businesses reported an average of 61 employees (compared to this company's 9) and received an average PPP loan of $507,459 (compared to this company's $38,737).
Similar Nearby Businesses Who Received PPP Funding:
Peabody Essex Museum, Inc.
Witch History Museum Inc.
BPM Productions, Inc.
Salem Wax Museum Inc
Witch Dungeon Museum Inc.
Industry PPP Comparison Statistics
Nationwide, 4,135 businesses in the "Museums" industry received a total of $670,583,040.00 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 16 employees, 78% higher than New England Pirate Museum Inc's reported 9 employees, and received an average PPP loan of $162,172, 319% higher than this company's loan of $38,737.
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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
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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