PPP Loan Data — Quality Air Metals, Inc., Holbrook, MA
Quality Air Metals, Inc. is a subchapter s corporation located at in Holbrook, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $2,583,305.00 in April, 2020.
$ PPP Loan Information
Lender:WEBSTER BANK, NATIONAL ASSOCIATION
Quality Air Metals, Inc. received a Paycheck Protection Loan of $2.58M through WEBSTER BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 90 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 124.
Based on standard PPP eligibility rules, Quality Air Metals, Inc.'s total 2019 payroll expenses were approximately $12.4M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 90 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Quality Air Metals, Inc. in Holbrook, MA
Holbrook, MA 2343
Other Heavy and Civil Engineering Construction (NAICS code 237990)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MA-08
Industry PPP Comparison Statistics
Nationwide, 5,686 businesses in the "Other Heavy and Civil Engineering Construction" industry received a total of $1,754,404,434.00 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 19 employees, 79% lower than Quality Air Metals, Inc.'s reported 90 employees, and received an average PPP loan of $308,548, 88% lower than this company's loan of $2.58M.
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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