PPP Loan Data — Way Finders, Inc, Springfield, MA
Way Finders, Inc
Entity: Non-profit Organization
Industry: Administration of Human Resource Programs (except Education, Public Health, and Veterans' Affairs Programs)
Location: Springfield, MATweet This • Search All PPP Data
Way Finders, Inc is a non-profit organization located at 120 Maple Street, 4th Floor in Springfield, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $2,692,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Way Finders, Inc in Springfield, MA received a Paycheck Protection Loan of $2.69M through Berkshire Bank, which was approved in April, 2020.
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, Way Finders, Inc's 2019 payroll expenses are estimated to be at least $12.92M.
Based on their reported 227 jobs retained, this equals an estimated average yearly compensation of $56,923 per employee1
Reported PPP Proceed Usage:
On the PPP application, Way Finders, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,692,000
Business Information - Way Finders, Inc in Springfield, MA
120 Maple Street, 4th Floor
Springfield, MA 1103
Administration of Human Resource Programs (except Education, Public Health, and Veterans' Affairs Programs)
NAICS code 923130
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Springfield
In the Springfield area, 2 businesses in the "Administration of Human Resource Programs (except Education, Public Health, and Veterans' Affairs Programs)" industry received a PPP loan. These local businesses reported an average of 114 employees (compared to this company's 227) and received an average PPP loan of $1,356,417 (compared to this company's $2.69M).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 782 businesses in the "Administration of Human Resource Programs (except Education, Public Health, and Veterans' Affairs Programs)" industry received a total of $99.34M 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 16 employees, 93% lower than Way Finders, Inc's reported 227 employees, and received an average PPP loan of $127,034, 95% lower than this company's loan of $2.69M.
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Footnotes & Information
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