PPP Loan Data — Empire Abrasive Equipment Company, LP, Langhorne, PA
Empire Abrasive Equipment Company, LP
Location: Langhorne, PATweet This • Search All PPP Data
Empire Abrasive Equipment Company, LP is a partnership located at 2101 West Cabot Blvd. in Langhorne, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $1,656,100.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Univest Bank and Trust Co.
Empire Abrasive Equipment Company, LP in Langhorne, PA received a Paycheck Protection Loan of $1.66M through Univest Bank and Trust Co., 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 March, 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, Empire Abrasive Equipment Company, LP's 2019 payroll expenses are estimated to be at least $7.95M.
Based on their reported 114 jobs retained, this equals an estimated average yearly compensation of $69,731 per employee1
Reported PPP Proceed Usage:
On the PPP application, Empire Abrasive Equipment Company, LP reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,656,100
Business Information - Empire Abrasive Equipment Company, LP in Langhorne, PA
2101 West Cabot Blvd.
Langhorne, PA 19057
Electroplating, Plating, Polishing, Anodizing, and Coloring
NAICS code 332813
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 1,840 businesses in the "Electroplating, Plating, Polishing, Anodizing, and Coloring" industry received a total of $484.67M 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 26 employees, 77% lower than Empire Abrasive Equipment Company, LP's reported 114 employees, and received an average PPP loan of $263,408, 84% lower than this company's loan of $1.66M.
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Footnotes & Information
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