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PPP Loan Data — Everfast, Inc., Kennett Square, PA

SBA PPP loan data, payroll data, and salaries for Everfast, Inc.
PA

Everfast, Inc.

Entity: Corporation

Industry: All Other Home Furnishings Stores

Location: Kennett Square, PA

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Everfast, Inc. is a corporation located at 203 Gale Ln in Kennett Square, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $4,250,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.25M

Jobs Retained:

474

Loan Approved:

2020-04-09

Lender:

WILMINGTON SAVINGS FUND SOCIETY, FSB

Everfast, Inc. received a Paycheck Protection Loan of $4.25M through WILMINGTON SAVINGS FUND SOCIETY, FSB, which was approved in April, 2020.

Based on standard PPP eligibility rules, Everfast, Inc.'s total 2019 payroll expenses were approximately $20.4M in order to qualify for the PPP loan amount received.

Based on their reported 474 jobs retained, this equals an estimated average yearly compensation of $43,038 per employee1.

Because the loan received by Everfast, Inc. 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 - Everfast, Inc. in Kennett Square, PA

Everfast, Inc.
203 Gale Ln
Kennett Square, PA 19348

Business Industry

All Other Home Furnishings Stores (NAICS code 442299)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: PA-06

Industry PPP Comparison Statistics

Nationwide, 4,512 businesses in the "All Other Home Furnishings Stores" industry received a total of $283,450,062.00 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 7 employees, 99% lower than Everfast, Inc.'s reported 474 employees, and received an average PPP loan of $62,821, 99% lower than this company's loan of $4.25M.

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.

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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/everfast-inc-kennett-square-pa