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PPP Loan Data — Northeast Security, Inc, Westwood, MA

SBA PPP loan data, payroll data, and salaries for Northeast Security, Inc
MA

Northeast Security, Inc

Entity: Subchapter S Corporation

Industry: Security Guards and Patrol Services

Location: Westwood, MA

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Northeast Security, Inc is a subchapter s corporation located at 265 Washington St in Westwood, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $10,000,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$10M

Jobs Retained:

500

Loan Approved:

2020-04-13

Lender:

PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION

Northeast Security, Inc in Westwood, MA received a Paycheck Protection Loan of $10M through PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Northeast Security, Inc's total 2019 payroll expenses were approximately $48M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $96,000 per employee1.

Because the loan received by Northeast Security, Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Northeast Security, Inc in Westwood, MA

Northeast Security, Inc
265 Washington St
Westwood, MA 02090

Business Industry

Security Guards and Patrol Services (NAICS code 561612)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MA-08

Industry PPP Comparison Statistics

Nationwide, 4,165 businesses in the "Security Guards and Patrol Services" industry received a total of $1,003,129,142.00 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 36 employees, 93% lower than Northeast Security, Inc's reported 500 employees, and received an average PPP loan of $240,847, 98% lower than this company's loan of $10M.

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, and is published unmodified, as provided by the SBA.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/northeast-security-inc-westwood-ma