PPP Loan Data — PT Billing Associates Inc, Boston, MA
PT Billing Associates Inc is a corporation located at 125 Lewis Wharf in Boston, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $46,852.00 in August, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Cross River Bank
PT Billing Associates Inc in Boston, MA received a Paycheck Protection Loan of $46,852 through Cross River Bank, which was approved in August, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, PT Billing Associates Inc's 2019 payroll expenses are estimated to be at least $224,890.
Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $20,445 per employee1
Reported PPP Proceed Usage:
On the PPP application, PT Billing Associates Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,852
Business Information - PT Billing Associates Inc in Boston, MA
125 Lewis Wharf
Boston, MA 2110
Office Administrative Services
NAICS code 561110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Boston
In the Boston area, 6 businesses in the "Office Administrative Services" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 11) and received an average PPP loan of $98,961 (compared to this company's $46,852).
Similar Nearby Businesses Who Received PPP Funding:
Arch Street Dental Corp
Casa Management Corp
Z&Z Accounting Services LLC
Leatherbee & Co., LLC
Swift Current Management Services, LLC
Industry PPP Comparison Statistics
Nationwide, 44,947 businesses in the "Office Administrative Services" industry received a total of $2.36B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 6 employees, 45% lower than PT Billing Associates Inc's reported 11 employees, and received an average PPP loan of $52,468, 12% higher than this company's loan of $46,852.
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Footnotes & Information
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