PPP Loan Data — Paul Riseman, Natick, MA
Paul Riseman is a sole proprietorship located in Natick, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $25,300.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Citizens Bank, National Association
Paul Riseman in Natick, MA received a Paycheck Protection Loan of $25,300 through Citizens Bank, National Association, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
Reported PPP Proceed Usage:
On the PPP application, Paul Riseman reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,300
Business Information - Paul Riseman in Natick, MA
* Full address is redacted to protect the privacy of individuals.
Insurance Agencies and Brokerages
NAICS code 524210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Natick
In the Natick area, 16 businesses in the "Insurance Agencies and Brokerages" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 1) and received an average PPP loan of $48,816 (compared to this company's $25,300).
Similar Nearby Businesses Who Received PPP Funding:
Asset Strategy Financial Group, Inc
Surety Bond Professionals, Inc
Edward A Ellis Insurance Agency Inc
Industry PPP Comparison Statistics
Nationwide, 149,532 businesses in the "Insurance Agencies and Brokerages" industry received a total of $5.87B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 4 employees, 300% higher than Paul Riseman's reported 1 employees, and received an average PPP loan of $39,254, 55% higher than this company's loan of $25,300.
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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