PPP Loan Data — GAP International Inc, Springfield, PA
GAP International Inc is a corporation located at 700 Old Marple Rd in Springfield, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $1,752,900.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:PNC Bank, National Association
GAP International Inc in Springfield, PA received a Paycheck Protection Loan of $1.75M through PNC Bank, National Association, 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 January, 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, GAP International Inc's 2019 payroll expenses are estimated to be at least $8.41M.
Based on their reported 112 jobs retained, this equals an estimated average yearly compensation of $75,124 per employee1
Reported PPP Proceed Usage:
On the PPP application, GAP International Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,752,900
Business Information - GAP International Inc in Springfield, PA
700 Old Marple Rd
Springfield, PA 19064
Professional and Management Development Training
NAICS code 611430
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Springfield
In the Springfield area, 3 businesses in the "Professional and Management Development Training" industry received a PPP loan. These local businesses reported an average of 38 employees (compared to this company's 112) and received an average PPP loan of $592,532 (compared to this company's $1.75M).
Similar Nearby Businesses Who Received PPP Funding:
Flash Bright Media LLC
Industry PPP Comparison Statistics
Nationwide, 12,077 businesses in the "Professional and Management Development Training" industry received a total of $602.02M 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 4 employees, 96% lower than GAP International Inc's reported 112 employees, and received an average PPP loan of $49,849, 97% lower than this company's loan of $1.75M.
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Footnotes & Information
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