PPP Loan Data — Explosive Power LLC, Phoenixville, PA
Explosive Power LLC
Entity: Limited Liability Company (LLC)
Location: Phoenixville, PATweet This • Search All PPP Data
Explosive Power LLC is a limited liability company (LLC) located at 103 Potters Pond Drive in Phoenixville, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
The company has reported itself as a female owned business, and employed at least two people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Explosive Power LLC in Phoenixville, PA received a Paycheck Protection Loan of $25,000 through Customers Bank, 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 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, Explosive Power LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Explosive Power LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Explosive Power LLC in Phoenixville, PA
103 Potters Pond Drive
Phoenixville, PA 19460
All Other Miscellaneous Store Retailers (except Tobacco Stores)
NAICS code 453998
Business Owner Demographics
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Phoenixville
In the Phoenixville area, 19 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 2) and received an average PPP loan of $25,337 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Buono Construction Group
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Futureman Design, Inc
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LPX Studios LLC DBA Gamers Heaven
He Think Inc
Vecchia Pizzeria Inc
Industry PPP Comparison Statistics
Nationwide, 152,436 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a total of $5.23B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 4 employees, 100% higher than Explosive Power LLC's reported 2 employees, and received an average PPP loan of $34,329, 37% higher than this company's loan of $25,000.
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