PPP Loan Data — Corporate Benefits Consultants Inc, Wexford, PA
Corporate Benefits Consultants Inc is a subchapter s corporation located at 8500 Brooktree Rd in Wexford, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $47,000.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:PNC Bank, National Association
Corporate Benefits Consultants Inc in Wexford, PA received a Paycheck Protection Loan of $47,000 through PNC Bank, National Association, which was approved in May, 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 April, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, Corporate Benefits Consultants Inc's 2019 payroll expenses are estimated to be at least $225,600.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $75,200 per employee1
Reported PPP Proceed Usage:
On the PPP application, Corporate Benefits Consultants Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,000
Business Information - Corporate Benefits Consultants Inc in Wexford, PA
8500 Brooktree Rd
Wexford, PA 15090
All Other Insurance Related Activities
NAICS code 524298
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Wexford
In the Wexford area, 5 businesses in the "All Other Insurance Related Activities" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 3) and received an average PPP loan of $67,230 (compared to this company's $47,000).
Similar Nearby Businesses Who Received PPP Funding:
Four M Consulting Inc
Matthew A Foglia
SAC Consultants Inc
Richard Morrison DBA Richard Morrison
Industry PPP Comparison Statistics
Nationwide, 12,557 businesses in the "All Other Insurance Related Activities" industry received a total of $538.36M 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 4 employees, 33% higher than Corporate Benefits Consultants Inc's reported 3 employees, and received an average PPP loan of $42,873, 9% lower than this company's loan of $47,000.
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Footnotes & Information
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