PPP Loan Data — Delval Equipment Corp, West Norriton, PA
Delval Equipment Corp
Entity: Subchapter S Corporation
Location: West Norriton, PATweet This • Search All PPP Data
Delval Equipment Corp is a subchapter s corporation located at 604 General Washington Ave. in West Norriton, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $1,930,700.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:PNC Bank, National Association
Delval Equipment Corp in West Norriton, PA received a Paycheck Protection Loan of $1.93M through PNC Bank, National Association, which was approved in April, 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 May, 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, Delval Equipment Corp's 2019 payroll expenses are estimated to be at least $9.27M.
Based on their reported 110 jobs retained, this equals an estimated average yearly compensation of $84,249 per employee1
Reported PPP Proceed Usage:
On the PPP application, Delval Equipment Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,930,700
Business Information - Delval Equipment Corp in West Norriton, PA
604 General Washington Ave.
West Norriton, PA 19403
Plumbing and Heating Equipment and Supplies (Hydronics) Merchant Wholesalers
NAICS code 423720
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near West Norriton
In the West Norriton area, 2 businesses in the "Plumbing and Heating Equipment and Supplies (Hydronics) Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 65 employees (compared to this company's 110) and received an average PPP loan of $1,115,350 (compared to this company's $1.93M).
Similar Nearby Businesses Who Received PPP Funding:
Design Plastic Systems Inc
Industry PPP Comparison Statistics
Nationwide, 4,248 businesses in the "Plumbing and Heating Equipment and Supplies (Hydronics) Merchant Wholesalers" industry received a total of $720.86M 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 13 employees, 88% lower than Delval Equipment Corp's reported 110 employees, and received an average PPP loan of $169,693, 91% lower than this company's loan of $1.93M.
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Footnotes & Information
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