PPP Loan Data — Abec, Inc, Bethlehem, PA
Abec, Inc is a subchapter s corporation located at 3998 Schelden Circle in Bethlehem, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $4,590,127.00 in April, 2020.
$ PPP Loan Information
Lender:MANUFACTURERS AND TRADERS TRUST COMPANY
Abec, Inc in Bethlehem, PA received a Paycheck Protection Loan of $4.59M through MANUFACTURERS AND TRADERS TRUST COMPANY, which was approved in April, 2020.
Based on standard PPP eligibility rules, Abec, Inc's total 2019 payroll expenses were approximately $22.03M in order to qualify for the PPP loan amount received.
Based on their reported 320 jobs retained, this equals an estimated average yearly compensation of $68,852 per employee1.
Business Information - Abec, Inc in Bethlehem, PA
3998 Schelden Circle
Bethlehem, PA 18017
Other Industrial Machinery Manufacturing (NAICS code 333249)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: PA-07
Industry PPP Comparison Statistics
Nationwide, 2,172 businesses in the "Other Industrial Machinery Manufacturing" industry received a total of $695,492,915.00 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 22 employees, 93% lower than Abec, Inc's reported 320 employees, and received an average PPP loan of $320,209, 93% lower than this company's loan of $4.59M.
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.
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.
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