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PPP Loan Data — Cumberland Truck Equipment Co, Carlisle, PA

SBA PPP loan data, payroll data, and salaries for Cumberland Truck Equipment Co
PA

Cumberland Truck Equipment Co

Entity: Subchapter S Corporation

Industry: Automobile and Other Motor Vehicle Merchant Wholesalers

Location: Carlisle, PA

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Cumberland Truck Equipment Co is a subchapter s corporation located at 25 Roadway Dr in Carlisle, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $3,143,200.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.14M

Jobs Retained:

292

Loan Approved:

2020-04-13

Lender:

PNC BANK, NATIONAL ASSOCIATION

Cumberland Truck Equipment Co received a Paycheck Protection Loan of $3.14M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Cumberland Truck Equipment Co's total 2019 payroll expenses were approximately $15.09M in order to qualify for the PPP loan amount received.

Based on their reported 292 jobs retained, this equals an estimated average yearly compensation of $51,669 per employee1.

Because the loan received by Cumberland Truck Equipment Co 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 - Cumberland Truck Equipment Co in Carlisle, PA

Cumberland Truck Equipment Co
25 Roadway Dr
Carlisle, PA 17015

Business Industry

Automobile and Other Motor Vehicle Merchant Wholesalers (NAICS code 423110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: PA-10

Similar Companies near Carlisle

In the Carlisle area, 2 businesses in the "Automobile and Other Motor Vehicle Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 146 employees (compared to this company's 292) and received an average PPP loan of $3,421,000 (compared to this company's $3.14M).

Similar Nearby Businesses Who Received PPP Funding:

Motor Truck Equipment Company
Carlisle, PA

$3.7M PPP Loan

Industry PPP Comparison Statistics

Nationwide, 4,037 businesses in the "Automobile and Other Motor Vehicle Merchant Wholesalers" industry received a total of $746,857,572.00 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 15 employees, 95% lower than Cumberland Truck Equipment Co's reported 292 employees, and received an average PPP loan of $185,003, 94% lower than this company's loan of $3.14M.

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/cumberland-truck-equipment-co-carlisle-pa