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PPP Loan Data — Food Management Services, Inc, Blue Bell, PA

SBA PPP loan data, payroll data, and salaries for Food Management Services, Inc
PA

Food Management Services, Inc

Entity: Corporation

Industry: Food Service Contractors

Location: Blue Bell, PA

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Food Management Services, Inc is a corporation located at 10 Sentry Parkway Suite 110 in Blue Bell, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $2,860,075.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.86M

Jobs Retained:

500

Loan Approved:

2020-04-14

Lender:

FULTON BANK, NATIONAL ASSOCIATION

Food Management Services, Inc received a Paycheck Protection Loan of $2.86M through FULTON BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Food Management Services, Inc's total 2019 payroll expenses were approximately $13.73M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $27,457 per employee1.

Because the loan received by Food Management Services, 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 - Food Management Services, Inc in Blue Bell, PA

Food Management Services, Inc
10 Sentry Parkway Suite 110
Blue Bell, PA 19422

Business Industry

Food Service Contractors (NAICS code 722310)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: PA-04

Similar Companies near Blue Bell

In the Blue Bell area, 2 businesses in the "Food Service Contractors" industry received a PPP loan. These local businesses reported an average of 294 employees (compared to this company's 500) and received an average PPP loan of $1,676,788 (compared to this company's $2.86M).

Similar Nearby Businesses Who Received PPP Funding:

Blue Bell Meadows LLC
Blue Bell, PA

$493,500 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 8,947 businesses in the "Food Service Contractors" industry received a total of $969,115,041.00 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 15 employees, 97% lower than Food Management Services, Inc's reported 500 employees, and received an average PPP loan of $108,317, 96% lower than this company's loan of $2.86M.

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.

Search FederalPay's Full PPP Loan Database

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/food-management-services-inc-blue-bell-pa