PPP Loan Data — Rentex Inc, Canton, MA
Rentex Inc is a corporation located at 110 Shawmut Road in Canton, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $4,194,800.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 370 people during the applicable loan loan period.
$ PPP Loan Information
Lender:BOSTON PRIVATE BANK & TRUST COMPANY
Rentex Inc received a Paycheck Protection Loan of $4.19M through BOSTON PRIVATE BANK & TRUST COMPANY, which was approved in April, 2020.
Based on standard PPP eligibility rules, Rentex Inc's total 2019 payroll expenses were approximately $20.14M in order to qualify for the PPP loan amount received.
Based on their reported 370 jobs retained, this equals an estimated average yearly compensation of $54,419 per employee1.
Business Information - Rentex Inc in Canton, MA
110 Shawmut Road
Canton, MA 2021
Office Machinery and Equipment Rental and Leasing (NAICS code 532420)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: MA-08
Industry PPP Comparison Statistics
Nationwide, 767 businesses in the "Office Machinery and Equipment Rental and Leasing" industry received a total of $145,896,756.00 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 14 employees, 96% lower than Rentex Inc's reported 370 employees, and received an average PPP loan of $190,217, 95% lower than this company's loan of $4.19M.
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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