PPP Loan Data — Food Management Services, Inc, Blue Bell, PA
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
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.
Business Information - Food Management Services, Inc in Blue Bell, PA
10 Sentry Parkway Suite 110
Blue Bell, PA 19422
Food Service Contractors (NAICS code 722310)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional 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
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.
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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