PPP Loan Data — Five Star Equipment Inc, Scranton, PA
Five Star Equipment Inc
Entity: Subchapter S Corporation
Industry: Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance
Location: Scranton, PATweet This • Search All PPP Data
Five Star Equipment Inc is a subchapter s corporation located at 1300 Dunham Dr in Scranton, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $2,343,400.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Peoples Security Bank and Trust Company
Five Star Equipment Inc in Scranton, PA received a Paycheck Protection Loan of $2.34M through Peoples Security Bank and Trust Company, which was approved in April, 2020.
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, Five Star Equipment Inc's 2019 payroll expenses are estimated to be at least $11.25M.
Based on their reported 155 jobs retained, this equals an estimated average yearly compensation of $72,570 per employee1
Reported PPP Proceed Usage:
On the PPP application, Five Star Equipment Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,343,400
Business Information - Five Star Equipment Inc in Scranton, PA
1300 Dunham Dr
Scranton, PA 18512
Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance
NAICS code 811310
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, 22,310 businesses in the "Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance" industry received a total of $2.27B 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 9 employees, 94% lower than Five Star Equipment Inc's reported 155 employees, and received an average PPP loan of $101,583, 96% lower than this company's loan of $2.34M.
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