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PPP Loan Data — ORA Inc,
Andover, MA
ORA Inc
Entity: Subchapter S Corporation
Industry: Research and Development in Biotechnology (except Nanobiotechnology)
Location: Andover, MA
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ORA Inc is a subchapter s corporation located at 300 Brickstone Sq Ste 1005 in Andover, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $3,393,390.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
220Loan Approved:
2020-04-15Lender:
BANK OF AMERICA, NATIONAL ASSOCIATIONORA Inc in Andover, MA received a Paycheck Protection Loan of $3.39M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, ORA Inc's total 2019 payroll expenses were approximately $16.29M in order to qualify for the PPP loan amount received.
Based on their reported 220 jobs retained, this equals an estimated average yearly compensation of $74,038 per employee1.
Business Information - ORA Inc in Andover, MA
300 Brickstone Sq Ste 1005
Andover, MA 01810
Business Industry
Research and Development in Biotechnology (except Nanobiotechnology) (NAICS code 541714)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: MA-03Similar Companies near Andover
In the Andover area, 2 businesses in the "Research and Development in Biotechnology (except Nanobiotechnology)" industry received a PPP loan. These local businesses reported an average of 112 employees (compared to this company's 220) and received an average PPP loan of $1,703,205 (compared to this company's $3.39M).
Similar Nearby Businesses Who Received PPP Funding:
Pacesetter Clinical Research Group, Inc.
Andover, MA
Industry PPP Comparison Statistics
Nationwide, 1,965 businesses in the "Research and Development in Biotechnology (except Nanobiotechnology)" industry received a total of $407,385,879.00 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 11 employees, 95% lower than ORA Inc's reported 220 employees, and received an average PPP loan of $207,321, 94% lower than this company's loan of $3.39M.
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.
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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