PPP Loan Data — S&M Transportation, Inc, Canton, MA
S&M Transportation, Inc
Entity: Subchapter S Corporation
Location: Canton, MATweet This • Search All PPP Data
S&M Transportation, Inc is a subchapter s corporation located at 138 Turnpike Street in Canton, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Citizens Bank, National Association
S&M Transportation, Inc in Canton, MA received a Paycheck Protection Loan of $25,000 through Citizens Bank, National Association, 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 June, 2021.
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, S&M Transportation, Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, S&M Transportation, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - S&M Transportation, Inc in Canton, MA
138 Turnpike Street
Canton, MA 2021
All Other Transit and Ground Passenger Transportation
NAICS code 485999
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Canton
In the Canton area, 3 businesses in the "All Other Transit and Ground Passenger Transportation" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 5) and received an average PPP loan of $49,591 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Allroad Transit Corporation
Allroad Transportation Corp
Industry PPP Comparison Statistics
Nationwide, 34,986 businesses in the "All Other Transit and Ground Passenger Transportation" industry received a total of $815.61M 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 3 employees, 40% lower than S&M Transportation, Inc's reported 5 employees, and received an average PPP loan of $23,312, 7% lower than this company's loan of $25,000.
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Footnotes & Information
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