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PPP Loan Data — Bollman Hat Company, Adamstown, PA

SBA PPP loan data, payroll data, and salaries for Bollman Hat Company
PA

Bollman Hat Company

Entity: Employee Stock Ownership Plan (esop)

Industry: Apparel Accessories and Other Apparel Manufacturing

Location: Adamstown, PA

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Bollman Hat Company is an employee stock ownership plan (esop) located at 110 East Main Street in Adamstown, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $2,566,500.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.57M

Jobs Retained:

220

Loan Approved:

2020-04-04

Lender:

PNC BANK, NATIONAL ASSOCIATION

Bollman Hat Company received a Paycheck Protection Loan of $2.57M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Bollman Hat Company's total 2019 payroll expenses were approximately $12.32M in order to qualify for the PPP loan amount received.

Based on their reported 220 jobs retained, this equals an estimated average yearly compensation of $55,996 per employee1.

Because the loan received by Bollman Hat Company 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 - Bollman Hat Company in Adamstown, PA

Bollman Hat Company
110 East Main Street
Adamstown, PA 19501

Business Industry

Apparel Accessories and Other Apparel Manufacturing (NAICS code 315990)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: PA-11

Industry PPP Comparison Statistics

Nationwide, 2,456 businesses in the "Apparel Accessories and Other Apparel Manufacturing" industry received a total of $302,692,200.00 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, 95% lower than Bollman Hat Company's reported 220 employees, and received an average PPP loan of $123,246, 95% lower than this company's loan of $2.57M.

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.

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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/bollman-hat-company-adamstown-pa