PPP Loan Data — Connect AmericaCom LLC, Bala Cynwyd, PA
Connect AmericaCom LLC is a limited liability company (LLC) located at One Belmont Ave 12th Floor in Bala Cynwyd, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $6,188,427.00 in April, 2020.
$ PPP Loan Information
Lender:CIBC BANK USA
Connect AmericaCom LLC received a Paycheck Protection Loan of $6.19M through CIBC BANK USA, which was approved in April, 2020.
Based on standard PPP eligibility rules, Connect AmericaCom LLC's total 2019 payroll expenses were approximately $29.7M in order to qualify for the PPP loan amount received.
Based on their reported 497 jobs retained, this equals an estimated average yearly compensation of $59,768 per employee1.
Business Information - Connect AmericaCom LLC in Bala Cynwyd, PA
One Belmont Ave 12th Floor
Bala Cynwyd, PA 19004
Security Systems Services (except Locksmiths) (NAICS code 561621)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: PA-04
Similar Companies near Bala Cynwyd
In the Bala Cynwyd area, 3 businesses in the "Security Systems Services (except Locksmiths)" industry received a PPP loan. These local businesses reported an average of 166 employees (compared to this company's 497) and received an average PPP loan of $2,244,910 (compared to this company's $6.19M).
Similar Nearby Businesses Who Received PPP Funding:
DSD Security Systems, LLC
Bala Cynwyd, PA
Main Line Protection Services LLC
Bala Cynwyd, PA
Industry PPP Comparison Statistics
Nationwide, 5,289 businesses in the "Security Systems Services (except Locksmiths)" industry received a total of $839,803,057.00 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 14 employees, 97% lower than Connect AmericaCom LLC's reported 497 employees, and received an average PPP loan of $158,783, 97% lower than this company's loan of $6.19M.
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.
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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