PPP Loan Data — Hannon Partnership, Pen Argyl, PA
Hannon Partnership is a partnership located at 1310 Blue Valley Dr in Pen Argyl, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $25,303.00 in April, 2020. This business is a Pet Supplies Plus franchise.
The company has reported itself as a White male owned business, and employed at least ten people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Bank of the Lake
Hannon Partnership in Pen Argyl, PA received a Paycheck Protection Loan of $25,303 through First Bank of the Lake, which was approved in April, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, Hannon Partnership's 2019 payroll expenses are estimated to be at least $121,454.
Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $12,145 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hannon Partnership reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,303
Business Information - Hannon Partnership in Pen Argyl, PA
1310 Blue Valley Dr
Pen Argyl, PA 18072
Pet and Pet Supplies Stores
NAICS code 453910
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 5,559 businesses in the "Pet and Pet Supplies Stores" industry received a total of $268.67M 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 8 employees, 20% lower than Hannon Partnership's reported 10 employees, and received an average PPP loan of $48,330, 91% higher than this company's loan of $25,303.
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Footnotes & Information
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