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PPP Loan Data — Absorption Systems LLC, Exton, PA

SBA PPP loan data, payroll data, and salaries for Absorption Systems LLC
PA

Absorption Systems LLC

Entity: Limited Liability Company (LLC)

Industry: Research and Development in the Physical, Engineering, and Life Sciences (except Nanotechnology and Biotechnology)

Location: Exton, PA

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Absorption Systems LLC is a limited liability company (LLC) located at 436 Creamery Way in Exton, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $2,714,100.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 189 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$2.71M

Jobs Retained:

189

Loan Approved:

2020-04-14

Lender:

PNC BANK, NATIONAL ASSOCIATION

Absorption Systems LLC received a Paycheck Protection Loan of $2.71M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Absorption Systems LLC's total 2019 payroll expenses were approximately $13.03M in order to qualify for the PPP loan amount received.

Based on their reported 189 jobs retained, this equals an estimated average yearly compensation of $68,930 per employee1.

Because the loan received by Absorption Systems LLC 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 - Absorption Systems LLC in Exton, PA

Absorption Systems LLC
436 Creamery Way
Exton, PA 19341

Business Industry

Research and Development in the Physical, Engineering, and Life Sciences (except Nanotechnology and Biotechnology) (NAICS code 541715)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: PA-06

Similar Companies near Exton

In the Exton area, 2 businesses in the "Research and Development in the Physical, Engineering, and Life Sciences (except Nanotechnology and Biotechnology)" industry received a PPP loan. These local businesses reported an average of 95 employees (compared to this company's 189) and received an average PPP loan of $1,362,675 (compared to this company's $2.71M).

Similar Nearby Businesses Who Received PPP Funding:

Allcron Pharma, Inc.
Glen Mills, PA

$11,250 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 2,580 businesses in the "Research and Development in the Physical, Engineering, and Life Sciences (except Nanotechnology and Biotechnology)" industry received a total of $574,978,946.00 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 12 employees, 94% lower than Absorption Systems LLC's reported 189 employees, and received an average PPP loan of $222,860, 92% lower than this company's loan of $2.71M.

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.

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.


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Source: www.federalpay.org/paycheck-protection-program/absorption-systems-llc-exton-pa