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PPP Loan Data — REX Lumber Company,
Acton, MA
REX Lumber Company
Entity: Corporation
Industry: Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers
Location: Acton, MA
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REX Lumber Company is a corporation located at 840 Main St in Acton, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $2,881,510.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
223Loan Approved:
2020-04-06Lender:
EASTERN BANKREX Lumber Company in Acton, MA received a Paycheck Protection Loan of $2.88M through EASTERN BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, REX Lumber Company's total 2019 payroll expenses were approximately $13.83M in order to qualify for the PPP loan amount received.
Based on their reported 223 jobs retained, this equals an estimated average yearly compensation of $62,024 per employee1.
Business Information - REX Lumber Company in Acton, MA
840 Main St
Acton, MA 1720
Business Industry
Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers (NAICS code 423310)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: MA-03Similar Companies near Acton
In the Acton area, 2 businesses in the "Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 120 employees (compared to this company's 223) and received an average PPP loan of $1,525,724 (compared to this company's $2.88M).
Similar Nearby Businesses Who Received PPP Funding:
Ashland Lumber Company, Inc
Ashland, MA
Industry PPP Comparison Statistics
Nationwide, 4,016 businesses in the "Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers" industry received a total of $905,412,517.00 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 17 employees, 92% lower than REX Lumber Company's reported 223 employees, and received an average PPP loan of $225,451, 92% lower than this company's loan of $2.88M.
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, 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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