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

PPP Loan Data — AAA Vending Services Inc, Erie, PA

ALERT: There are 2 PPP loans for a total of $67,290 in our database for businesses with the name "AAA Vending Services Inc" in Erie, PA. 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 AAA Vending Services Inc
PA

AAA Vending Services Inc

Entity: Corporation

Industry: Vending Machine Operators

Location: Erie, PA

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AAA Vending Services Inc is a corporation located at 5604 W Ridge Rd in Erie, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $21,190.00 in February, 2021.

$ PPP Loan Information
Loan #3744848503

Loan Size:

$21,190

Jobs Retained:

3

Loan Approved:

2021-02-24

Loan Status:

Ongoing Loan

Lender:

First National Bank of Pennsylvania

AAA Vending Services Inc in Erie, PA received a Paycheck Protection Loan of $21,190 through First National Bank of Pennsylvania, 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, AAA Vending Services Inc's 2019 payroll expenses are estimated to be at least $101,712.

Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $33,904 per employee1

Reported PPP Proceed Usage:

On the PPP application, AAA Vending Services Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $21,189
  • Utilities: $1

Business Information - AAA Vending Services Inc in Erie, PA

AAA Vending Services Inc
5604 W Ridge Rd
Erie, PA 16506

Business Industry:
Vending Machine Operators
NAICS code 454210

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Erie County, PA — SBA Office 0358 — Congressional District: PA-16

Similar Companies near Erie

In the Erie area, 2 businesses in the "Vending Machine Operators" industry received a PPP loan. These local businesses reported an average of 37 employees (compared to this company's 3) and received an average PPP loan of $339,778 (compared to this company's $21,190).

Similar Nearby Businesses Who Received PPP Funding:

James H. Cross Co
Erie, PA

$658,365 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 5,683 businesses in the "Vending Machine Operators" industry received a total of $306.05M 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 6 employees, 100% higher than AAA Vending Services Inc's reported 3 employees, and received an average PPP loan of $53,853, 154% higher than this company's loan of $21,190.

SBA PPP loan data, payroll data, and salaries for AAA Vending Services, Inc
PA

AAA Vending Services, Inc

Entity: Corporation

Industry: Precision Turned Product Manufacturing

Location: Erie, PA

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AAA Vending Services, Inc is a corporation located at 5604 W Ridge Road in Erie, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $46,100.00 in April, 2020.

$ PPP Loan Information
Loan #7948337006

Loan Size:

$46,100

Jobs Retained:

8

Loan Approved:

2020-04-08

Loan Status:

Paid in Full or Forgiven

Lender:

First National Bank of Pennsylvania

AAA Vending Services, Inc in Erie, PA received a Paycheck Protection Loan of $46,100 through First National Bank of Pennsylvania, 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 May, 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, AAA Vending Services, Inc's 2019 payroll expenses are estimated to be at least $221,280.

Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $27,660 per employee1

Reported PPP Proceed Usage:

On the PPP application, AAA Vending Services, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $46,100

Business Information - AAA Vending Services, Inc in Erie, PA

AAA Vending Services, Inc
5604 W Ridge Road
Erie, PA 16506

Business Industry:
Precision Turned Product Manufacturing
NAICS code 332721

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Erie County, PA — SBA Office 0358 — Congressional District: PA-16

Similar Companies near Erie

In the Erie area, 4 businesses in the "Precision Turned Product Manufacturing" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 8) and received an average PPP loan of $187,491 (compared to this company's $46,100).

Industry PPP Comparison Statistics

Nationwide, 1,702 businesses in the "Precision Turned Product Manufacturing" industry received a total of $501.83M 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 25 employees, 213% higher than AAA Vending Services, Inc's reported 8 employees, and received an average PPP loan of $294,847, 540% higher than this company's loan of $46,100.

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/aaa-vending-services-inc-erie-pa