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PPP Loan Data — Planet Aid,
Milford, MA
Planet Aid
Entity: Professional Association
Industry: Emergency and Other Relief Services
Location: Milford, MA
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Planet Aid is a professional association located at 47 Sumner Street in Milford, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $2,665,700.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 240 people during the applicable loan loan period.
$ PPP Loan Information
Loan Size:
Jobs Retained:
240Loan Approved:
2020-04-05Lender:
MAIN STREET BANKPlanet Aid received a Paycheck Protection Loan of $2.67M through MAIN STREET BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Planet Aid's total 2019 payroll expenses were approximately $12.8M in order to qualify for the PPP loan amount received.
Based on their reported 240 jobs retained, this equals an estimated average yearly compensation of $53,314 per employee1.
Business Information - Planet Aid in Milford, MA
47 Sumner Street
Milford, MA 1757
Business Industry
Emergency and Other Relief Services (NAICS code 624230)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: NON-VETERAN
Congressional District: MA-04Industry PPP Comparison Statistics
Nationwide, 903 businesses in the "Emergency and Other Relief Services" industry received a total of $150,157,406.00 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, 93% lower than Planet Aid's reported 240 employees, and received an average PPP loan of $166,287, 94% lower than this company's loan of $2.67M.
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.
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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