PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Sheffield Express LLC, Milford, MA

ALERT: There are 2 PPP loans for a total of $4.37M in our database for businesses with the name "Sheffield Express LLC" in Milford, MA. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Sheffield Express LLC
MA

Sheffield Express LLC

Entity: Limited Liability Company (LLC)

Industry: Local Messengers and Local Delivery

Location: Milford, MA

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Sheffield Express LLC is a limited liability company (LLC) located at 1 Maple St Ste 1a in Milford, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $1,218,333.00 in February, 2021.

The company has reported itself as a male owned business, and employed at least 91 people during the applicable loan loan period.

$ PPP Loan Information
Loan #3896258502

Loan Size:

$1.22M

Jobs Retained:

91

Loan Approved:

2021-02-24

Loan Status:

Ongoing Loan

Lender:

UniBank for Savings

Sheffield Express LLC in Milford, MA received a Paycheck Protection Loan of $1.22M through UniBank for Savings, which was approved in February, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Sheffield Express LLC's 2019 payroll expenses are estimated to be at least $5.85M.

Based on their reported 91 jobs retained, this equals an estimated average yearly compensation of $64,264 per employee1

Reported PPP Proceed Usage:

On the PPP application, Sheffield Express LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,218,330
  • Utilities: $1

Business Information - Sheffield Express LLC in Milford, MA

Sheffield Express LLC
1 Maple St Ste 1a
Milford, MA 1757

Business Industry:
Local Messengers and Local Delivery
NAICS code 492210

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Worcester County, MA — SBA Office 0101 — Congressional District: MA-04

Similar Companies near Milford

In the Milford area, 4 businesses in the "Local Messengers and Local Delivery" industry received a PPP loan. These local businesses reported an average of 38 employees (compared to this company's 91) and received an average PPP loan of $356,641 (compared to this company's $1.22M).

Industry PPP Comparison Statistics

Nationwide, 52,239 businesses in the "Local Messengers and Local Delivery" industry received a total of $787M 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 2 employees, 98% lower than Sheffield Express LLC's reported 91 employees, and received an average PPP loan of $15,065, 99% lower than this company's loan of $1.22M.

SBA PPP loan data, payroll data, and salaries for Sheffield Express LLC
MA

Sheffield Express LLC

Entity: Limited Liability Company (LLC)

Industry: Couriers and Express Delivery Services

Location: Milford, MA

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Sheffield Express LLC is a limited liability company (LLC) located at 1 Maple Street Suite 1a in Milford, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $3,148,100.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 390 people during the applicable loan loan period.

$ PPP Loan Information
Loan #7888347006

Loan Size:

$3.15M

Jobs Retained:

390

Loan Approved:

2020-04-08

Loan Status:

Paid in Full or Forgiven

Lender:

UniBank for Savings

Sheffield Express LLC in Milford, MA received a Paycheck Protection Loan of $3.15M through UniBank for Savings, which was approved in April, 2020.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in August, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Sheffield Express LLC's 2019 payroll expenses are estimated to be at least $15.11M.

Based on their reported 390 jobs retained, this equals an estimated average yearly compensation of $38,746 per employee1

Reported PPP Proceed Usage:

On the PPP application, Sheffield Express LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $3,148,100
Because the loan received by Sheffield Express LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Sheffield Express LLC in Milford, MA

Sheffield Express LLC
1 Maple Street Suite 1a
Milford, MA 1757

Business Industry:
Couriers and Express Delivery Services
NAICS code 492110

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Worcester County, MA — SBA Office 0101 — Congressional District: MA-04

Similar Companies near Milford

In the Milford area, 18 businesses in the "Couriers and Express Delivery Services" industry received a PPP loan. These local businesses reported an average of 24 employees (compared to this company's 390) and received an average PPP loan of $189,511 (compared to this company's $3.15M).

Industry PPP Comparison Statistics

Nationwide, 86,084 businesses in the "Couriers and Express Delivery Services" industry received a total of $1.34B 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 2 employees, 99% lower than Sheffield Express LLC's reported 390 employees, and received an average PPP loan of $15,511, 100% lower than this company's loan of $3.15M.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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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Source: www.federalpay.org/paycheck-protection-program/sheffield-express-llc-milford-ma