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

PPP Loan Data — The Portland Group, Inc., Framingham, MA

SBA PPP loan data, payroll data, and salaries for The Portland Group, Inc.
MA

The Portland Group, Inc.

Entity: Subchapter S Corporation

Industry: Household Appliances, Electric Housewares, and Consumer Electronics Merchant Wholesalers

Location: Framingham, MA

Search All PPP Data

The Portland Group, Inc. is a subchapter s corporation located at 390 Franklin St in Framingham, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $3,125,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.13M

Jobs Retained:

250

Loan Approved:

2020-04-08

Lender:

PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION

The Portland Group, Inc. in Framingham, MA received a Paycheck Protection Loan of $3.13M through PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, The Portland Group, Inc.'s total 2019 payroll expenses were approximately $15M in order to qualify for the PPP loan amount received.

Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1.

Because the loan received by The Portland Group, Inc. 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 - The Portland Group, Inc. in Framingham, MA

The Portland Group, Inc.
390 Franklin St
Framingham, MA 1702

Business Industry

Household Appliances, Electric Housewares, and Consumer Electronics Merchant Wholesalers (NAICS code 423620)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MA-05

Similar Companies near Framingham

In the Framingham area, 2 businesses in the "Household Appliances, Electric Housewares, and Consumer Electronics Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 128 employees (compared to this company's 250) and received an average PPP loan of $1,606,272 (compared to this company's $3.13M).

Similar Nearby Businesses Who Received PPP Funding:

Electronic Components, Inc
Framingham, MA

$87,543 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 1,375 businesses in the "Household Appliances, Electric Housewares, and Consumer Electronics Merchant Wholesalers" industry received a total of $231,529,764.00 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 13 employees, 95% lower than The Portland Group, Inc.'s reported 250 employees, and received an average PPP loan of $168,385, 95% lower than this company's loan of $3.13M.

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.

Search FederalPay's Full PPP Loan Database

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.


Have FederalPay.org's open data tools been valuable? Consider donating!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/the-portland-group-inc-framingham-ma